Nifty Outlook for 01st Oct

 In the previous session : 

Nifty went down by 38 points then went up by 73 points before closing higher by 25 points on Wednesday 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 7511.10 now . 

On 30th Sep :

Nifty triggered our long trade towards the end and and took our stoploss. Nifty traded between our long and short trigger zone for nearly the entire day indicating indecisiveness. After 2 days of indecisiveness we should see a trending move tomorrow. 

For 01st Oct :

 

Sustaining above 11315 enter for 11355 - 11405 - 11530 , SL 11265

Sustaining below 11180 enter for 11140 - 11090 - 10965 , SL 11230

As mentioned in the previous post "Now for this week Nifty has immediate resistance at 11155 - 11215 zone and closing above it we may see a further move towards 11395 - 11435 zone . " , the entire week so far though today Nifty has not managed to sustain at higher levels but it has also managed to close above 11215  which was the initial resistance which is keeping the option open for one more test of 11395 - 11435 . 

On the downside Nifty has immediate support at 10950 - 10880 zone and below it we may see a further move towards 10705 - 10665 .

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "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.