Nifty Outlook for 12th Feb

 In the previous session : 

Nifty went down  by 41 points then went up by 82 points before closing higher by 66 points on Thursday as compared to the previous day's close. 

Nifty  made a new life time high of 15257.10 in this upmove from the levels of  7511.10  . 

On 11th Feb :

Nifty traded between our long and short trigger range indicating indecisiveness on further direction.

For 12th Feb :

 

Sustaining above 15260 enter for 15305 - 15370 - 15525 , SL 15200

Sustaining below 15090 enter for 15040 - 14980 - 14820 , SL 15150

 

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 . 

So far this week Nifty made a high 15257.10 breaking above our immediate resistance zone but failed to sustain and close above it for a further move towards 15540 - 15620. On failing to close above 15225 we were expecting a move towards 14950 - 14875 and we saw Nifty make a low of 14977.20 so far this week.

Now in the coming session Nifty needs to sustain beyond the range of 14980 - 15280 for a bigger move .

Caution advised on entering fresh long positions on further upmoves from here . 

 

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.