Nifty Outlook for 19th Oct

 In the previous session : 

Nifty went down by 12 points then went up by 110 points before closing higher by 82 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 16th Oct :

Nifty triggered our long trade and completed 2 targets doing 65 points 

For 19th Oct :

 

Sustaining above 11810 enter for 11835 - 11870 - 11960 , SL 11775

Sustaining below 11715 enter for 11690 - 11655 - 11570 , SL 11750

 

Now for this week :

Nifty has immediate resistance at 11840 - 11885 zone and closing above it we may see a further move towards 12015 - 12045 zone 

Nifty has immediate support at 11685 - 11640 zone and closing below it we may see a further move towards 11510 - 11475 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.