Monday 15 February 2021

Nifty Outlook for 16th Feb

In the previous session : 


Nifty went up by 177 points before closing higher by 151 points on Monday as compared to the previous day's close. 







Nifty  made a new life time high of 15340.15 in this upmove from the levels of  7511.10  . 


On 15th Feb :

Nifty triggered our long trade and completed all targets doing 90 points

For 16th Feb :
 
Sustaining above 15345 enter for 15360 - 15380 - 15435 , SL 15325

Sustaining below 15285 enter for 15270 - 15250 - 15195 , SL 15305


 

Now for this week :

Nifty has immediate resistance at 15240 - 15285 zone and sustaining or closing above it we may see a further move towards 15415 - 15450 zone 

Nifty has immediate support at 15090 - 15040 zone and sustaining or closing below it we may see a further move towards 14910 - 14880 zone . 

So far this week Nifty has broken and closed above 15285  which was the outer end of the initial resistance zone and now as long as it sustains above it we can see a move towards the next targets of 15415 - 15450.




Caution advised on entering fresh long positions on further upmoves from here . Those who are looking to enter shorts on further rise towards 15450 - 15550 should keep a cbsl of 15660 .



 
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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