Nifty Outlook for 19th Feb

 In the previous session : 

Nifty went up by 42 points then went down by 131 points before closing lower by 90 points on Thursday 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 18th Feb :

Nifty initially triggered our long trade and took our stoploss . Post that Nifty reversed to trigger our short trade and completed all targets doing 100 points. 

For 19th Feb :

 

Sustaining above 15165 enter for 15185 - 15205 - 15270 , SL 15130

Sustaining below 15070 enter for 15055 - 15035 - 14965 , SL 15108

 

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 had broken and closed above 15285  which was the outer end of the initial resistance zone and we were expecting to see a move towards the next targets of 15415 - 15450 and Nifty made a high of 15431.75 completing those targets . 

Now till Nifty is trading below 15285 we were expecting to see a move towards 15090 - 15040 zone where it has its immediate support and Nifty made a low of 15078.25 . Now if Nifty breaks and sustains below 15040 then next even 14910 - 14880 levels can be seen once the small support at 14975 is taken out .

Now Nifty needs to break and sustain above 15285 for a move back towards 15460 levels .

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.