Nifty Outlook for 04th Nov

 In the previous session : 

Nifty went up by 167 points before closing higher by 144 points on Tuesday 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 03rd Nov :

Nifty triggered our long trade and completed all targets 

For 04th Nov :

 

Sustaining above 11855 enter for 11875 - 11905 - 11980 , SL 11825

Sustaining below 11775 enter for 11750 - 11720 - 11650 , SL 11800

 

Now for this week :

Nifty has immediate resistance at 11700 - 11730 zone and closing above it we may see a further move towards 11825 - 11850 zone 

Nifty has immediate support at 11590 - 11550 zone and closing below it we may see a further move towards 11460 - 11435 zone . 

Nifty made a low of 11557.40 near the support zone and rebounded to make a high of 11836.20 within the next resistance zone . Now for a further upmove Nifty needs to break and sustain above 11850 for a further upmove towards 11925 - 12015. On the downside now 11700 - 11730 is the immediate support 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.