Thursday 24 September 2020

Nifty Spot Outlook for 25th Sep

 In the previous session : 


Nifty went up by 341 points before closing lower by 326 points on Thursday 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 24th Sep :

Nifty opened below our 2nd target and still fell further 225 points.

For25th Sep :
 


Sustaining above 10855 enter for 10885 - 10920 - 11010 , SL 10820


Sustaining below 10755 enter for 10725 - 10690 - 10600 , SL 10790


As mentioned in the previous post " As long as Nifty closes below 11165 doors are open for a correction towards 11000 and below it till 10870 levels ." , and Nifty had closed below 11165 and we saw a fall all the way till 10790 completing all targets and actually exceeding it.

Now for this week now Nifty has immediate resistance at 11050 - 11100 zone and closing above it we may see a further move towards 11255 - 11325 zone . 

On the downside Nifty has immediate support at 10690 - 10550 zone.

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.

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