Nifty Outlook for 12th Oct

In the previous session : 

Nifty went down by 29 points then went up by 104 points before closing higher by 79 points on Friday 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 09th Oct :

Nifty triggered our long trade and did 73 points

For 12th Oct :

 

Sustaining above 11940 enter for 11955 - 11970 - 12015 , SL 11920

Sustaining below 11890 enter for 11875 - 11855 - 11815 , SL 11910

 

Now for this week :

Nifty has immediate resistance at 11955 - 11980 zone and closing above it we may see a further move towards 12045 - 12065 zone 

Nifty has immediate support at 11875 - 11850 zone and closing below it we may see a further move towards 11785 - 11765 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"

Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.