Sunday, 1 March 2020

Nifty Spot Outlook for 02nd Mar

In the previous session : 



Nifty went down by 458 points before closing lower by 431 points on Firday as compared to the previous day's close.




Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 11614.50 . 


On 28th Feb :

Nifty triggered our short trade and did 400 points more because of Dow and other international markets falling sharply due to the coronavirus spreading news. 


For 02nd Mar  :

Sustaining above 11260 enter for 11290 - 11330 - 11435 , SL 11220

Sustaining below 11145 enter for 11110 - 11070 - 10965 , SL 11185






How to use these levels 

  • Enter on sustaining above/below the levels mentioned and look to book partly/fully once at the 2nd target as its placed at the resistance / support . Re-enter if price sustains above / below the 2nd target with a trailing stoploss of the entry levels. 


For this month :
  • Nifty longs will get confirmed with a consecutive close above 11505 for a initial target of 11825 - 11905 and sustaining / closing above 11905 we can see a further move till 12185 - 12485.  
  • Nifty shorts will get confirmed with a consecutive close below 10895 for  a initial target of 10575 - 10495 and sustaining / closing below 11495 we can see a further move till 10220 - 9920 . 





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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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