Nifty Outlook for 22nd Feb

 In the previous session : 

Nifty went up by 25 points then went down by 221 points before closing lower by 137 points on Friday 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 19th Feb :

Nifty triggered our short trade and completed all targets and more doing 170 points. 

For 22nd Feb :

 

Sustaining above 15025 enter for 15040 - 15055 - 15115 , SL 14990

Sustaining below 14940 enter for 14925 - 14905 - 14850 , SL 14975

 

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 . 

As mentioned in the last daily " 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 ." , and we saw a low of 14898.20

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 14898.20 till now . 

 

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.