Nifty Outlook for 26th Feb

 In the previous session : 

Nifty went up by 194 points before closing higher by 115 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 25th Feb :

Nifty triggered our long trade and completed 2 targets and more doing 111 points. 

For 26th Feb :

 

Sustaining above 15180 enter for 15215 - 15245 - 15365 , SL 15115

Sustaining below 15015 enter for 14980 - 14950 - 14830 , SL 15080

 

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 .

As mentioned in the previous update "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." , and we saw Nifty make a high of 15176.50 on breaking above 15035 - 15090 achieving our targets of 15155 - 15180 .

Now unless Nifty breaks and sustains above 15180 we can see some selling pressure and a move towards 15060 - 15015 initially and below it towards 14980 - 14950 too.

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 15176.50 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"

Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.