Saturday, 7 March 2020

Weekly Spot Outlook Of Nifty for 09th to 13th Mar

In the previous week : 

Nifty went up by 231 points then went down by 374 points before finally ending the week with a loss of 212 points compared to last weekly closing. 

Nifty had made a new life time high of 12430 on 20th January . 


Nifty for this week :

  • Sustaining above 11090 enter for 11150 - 11200 - 11250
  • Further sustaining above 11320 enter for 11365 - 11510 - 11670

  • Sustaining below 10890 enter for 10830 - 10780 - 10730
  • Further sustaining below 10660 enter for 10615 - 10470 - 10310 

How to use these levels  
  • For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets  . 

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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