Nifty Outlook for 23rd Feb

  In the previous session : 

Nifty went up by 28 points then went down by 347 points before closing lower by 306 points on Monday as compared to the previous day's close. 

Nifty  made a new life time high of 15431.75 in this upmove from the levels of  7511.10  . 

On 22th Feb :

Nifty triggered our short trade and completed all targets and more doing 300 points. 

For 23rd Feb :

 

Sustaining above 14735 enter for 14760 - 14785 - 14875 , SL 14690

Sustaining below 14615 enter for 14590 - 14565 - 14480 , SL 14660

 

Now for this week :

Nifty has immediate resistance at 15035 - 15090 zone and sustaining or closing above it we may see a further move towards 15155 - 15180 zone 

Nifty has immediate support at 14930 - 14870 zone and sustaining or closing below it we may see a further move towards 14810 - 14780 zone . 

So far this week Nifty has triggered our weekly short and completed both targets till 14780 and exceeded it  by making a low of 14635.05 .

Now as long as Nifty is sustaining below 14785 we can see the downmove extend towards 14630 and below it till 14375 too .

Nifty needs to break and sustain above 14785 on upmoves to move up further towards 14870 - 14930 .

Now Nifty needs to sustain and close above 15175 for any strength to be resumed on the upside .

Caution was advised on entering fresh long positions near 15450 - 15550 and we saw a high of 15431.75 from where Nifty has reversed to make a low of 14635.05 till now falling nearly 800 points 

 

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradest.ocks"

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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.