Nifty Outlook for 08th Feb

 In the previous session : 

Nifty went down by 31 points then went up by 119 points before closing higher by 28 points on Friday as compared to the previous day's close. 

Nifty  made a new life time high of 15014.65 in this upmove from the levels of  7511.10  . 

On 05thFeb :

Nifty traded between our long and short trigger range today and did not give a signal on either side indicating tiredness in this upmove.

For 08th Feb :

 

Sustaining above 15040 enter for 15105 - 15190 - 15400 , SL 14960

Sustaining below 14810 enter for 14740 - 14660 - 14450 , SL 14890

 

Now for this week :

Nifty has immediate resistance at 15110 - 15225 zone and sustaining or closing above it we may see a further move towards 15540 - 15620 zone 

Nifty has immediate support at 14740 - 14625 zone and sustaining or closing below it we may see a further move towards 14310 - 14230 zone . 

Caution has been advised on entering fresh long positions in the zone of 14950 - 15150 since the past 2 sessions .

 

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.