Sunday, 13 October 2019

Nifty Spot Outlook for 14th Oct

NIFTY


In the previous session Nifty spot opened at 11257.70 , made a high of 11362.90 , made a low of 11189.40,  before closing at 11305.05


Had mentioned that long trade will get triggered for the day on sustaining above 11275 and short trade will get triggered for the day on sustaining below 11195. Nifty triggered our long trade and completed 75+ points and then took our TSL. Post that Nifty triggered our short trade but could not sustain and took our stoploss. Nifty has been swinging both sides indecisiveness of late and this can continue for a few more sessions.



For the coming week :

Those who are looking to enter fresh longs should wait for Nifty to sustain / close above 11400 and then enter for a initial target of 11500 - 11530 and look to hold further only on sustaining or getting a close above 11530 for the next targets of 11615 - 11710. 

&

Those who are looking to enter fresh short should wait for Nifty to sustain / close below 11210 and then enter for a initial target of 11110 - 11080 and look to hold further only on sustaining or getting a close below 11080 for the next targets of 10995 - 10900. 






As mentioned in the previous post " Nifty failed to break and sustain above our weekly long confirmation level of 11315 today after closing 2 points away from it in the previous session. In the last session this week again Nifty breaking and sustaining above is required for the upmove to resume as staying below it will give a sideways to negative move towards 11200." , and we saw Nifty slide down to 11189.40 once it failed to sustain above 11315.




For the month of October , longs will get confirmed in Nifty with a consecutive close above 12085 for a initial target of 12630 - 12770 and sustaining / closing above 12770 we can see a further move till 13240 - 13755 .  Similarly shorts will get confirmed with a consecutive close below 11055 for  a initial target of 10510 - 10375 and sustaining / closing below 10375 we can see a further move till 9905 - 9390 .




Now on the upside Nifty has immediate resistance near 11365 - 11400 in the coming sessions and only on getting a strong close above 11400 we can see a further upmove .


On the downside Nifty has immediate support near 11245 - 11210 in the coming sessions and on getting a strong close below 11210 we can see a move again to break 11100 levels  .

As long as Nifty is able to hold / close above 11035 in case of a correction we can expect a upmove again.





Now in the coming session Nifty needs to break and sustain above 11340 to test 11380 - 11390 initially and sustaining above it we can see a further upmove till 11425 - 11460. Similarly breaking and sustaining below 11270 we can see a test of 11230 - 11220 initially and breaking and sustaining below it we can see a further correction till 11190 - 11150.


Nifty Spot Levels for the day are

Long above 11340 for 11365 - 11390 - 11460 , SL 11315

Short below 11270 for 11245 - 11220 - 11150 , SL 11295

Telegram Channel will be active from October for live trades under the name of Simply Trade . Those who wish to join can click on this link and open it with telegram https://t.me/simplytradestocks


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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

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