Nifty Outlook for 15th Oct

 In the previous session : 

Nifty went down by 112 points then went up by 62 points before closing higher by 36 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 14th Oct :

Nifty initially triggered our short trade and completed all targets doing 80 points. Nifty then reversed to trigger our long trade and completed 2 targets doing 30 points . Nifty is still indicating indecisiveness for the third consecutive day and now unless we get a close above 12025 longs should be cautious

For 15th Oct :

 

Sustaining above 11995 enter for 12010 - 12025 - 12065 , SL 11980

Sustaining below 11950 enter for 11935 - 11920 - 11880 , SL 11965

 

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 . 

As mentioned above we saw Nifty make a high of 12022.05 near our next resistance and correct till 11822.15 so far this week. We can expect Nifty to face some resistance near 12045 - 12065 levels .

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.