Nifty Outlook for 25th Feb

 In the previous session : 

Nifty went up by 301 points before closing higher by 274 points on Wednesday 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 24th Feb :

Nifty triggered our long trade and nearly completed all targets and more doing 238 points. It was difficult day for traders after NSE shutdown due to technical glitches a couple of hours after opening . It re-opened at 3.45 pm and closed at 5:00 pm giving a trading session of 1:15 mins .

For 25th Feb :

 

Sustaining above 15065 enter for 15095 - 15125 - 15240 , SL 15000

Sustaining below 14900 enter for 14870 - 14840 - 14725 , SL 14965

 

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 . 

So far this week Nifty has triggered our weekly short and completed both targets till 14780 and exceeded it  by making a low of 14635.05 .

Nifty broke above 14785 after the low of 14635.05 and made a high of 15008.60 exceeding our expected initial level of 14870 - 14930 and also closed well above it . 

Nifty now has immediate resistance at 15035 - 15095 and needs to break and sustain above it for a move till 15155 - 15180 and failing to break and close above these levels we can see the correction resume.

Overall now Nifty needs to sustain and close above 15215 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 14635.05 till now falling nearly 800 points 

Post that caution was advised on holding shorts and entering new short at 14667 and we bounced back till 15008 so far .

 

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradest.ocks"

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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.