Wednesday 25 November 2020

Nifty Outlook for 26th Nov

  In the previous session : 


Nifty went up by 90 points then went down by 221 points before closing lower by 196 points on Wednesday as compared to the previous day's close. 







Nifty  made a new life time high of 13145.85 in this upmove from the levels of  7511.10  . 


On 25th Nov :

Nifty triggered our long trade with a gap up near our 2nd target and did not give a chance  to enter. Nifty then reversed to trigger our short trade and  completed all targets and exceeded giving 180 points. 

For 26th Nov :
 
Sustaining above 12900 enter for 12925 - 12960 - 13035 , SL 12870


Sustaining below 12815 enter for 12790 - 12760 - 12680 , SL 12845


 

Now for this week :

Nifty has immediate resistance at 12920 - 12960 zone and closing above it we may see a further move towards 13060 - 13090 zone 

Nifty has immediate support at 12795 - 12760 zone and closing below it we may see a further move towards 12655 - 12630 zone . 

Nifty tested the next weekly resistance zone and made a high of 13145.85 . It failed to sustain above 13090 and reversed to correct till 12834 . Now tomorrow Nifty needs to hold its support at 12795 - 12760 to prevent further correction towards the next support. On the upside Nifty has immediate resistance at 12920 - 12960 zone for tomorrows expiry. 

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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