Wednesday 6 January 2021

Nifty Outlook for 07th Jan

 In the previous session : 


Nifty went up by 44 points then went down by 160 points before closing lower by 53 points on Wednesday as compared to the previous day's close. 







Nifty  made a new life time high of 14244.15 in this upmove from the levels of  7511.10  . 


On 06th Jan :

Nifty initially triggered our long trade with a gap up near our 2nd short target and did not give a chance to trade. Post that Nifty reversed to trigger our short  trade and  went beyond all targets doing 140 points.

For 07th Jan :
 
Sustaining above 14170 enter for 14185 - 14200 - 14245 , SL 14155


Sustaining below 14125 enter for 14110 - 14090 - 14050 , SL 14140


 

Now for this week :

Nifty has immediate resistance at 14130 - 14200 zone and closing above it we may see a further move towards 14385 - 14435 zone 

Nifty has immediate support at 13910 - 13840 zone and closing below it we may see a further move towards 13650 - 13600 zone . 

So far this week Nifty has made a high of 14244.15 above our initial resistance zone and closed borderline at its outer range  . Now sustaining  above 14250 is required for a further move towards 14385 - 14435 .

From the current levels and on further move towards 14385 - 14435 caution is advised on entering fresh long positions.

 
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.


No comments:

Post a Comment