Nifty Outlook for 03rd Mar

 In the previous session : 

Nifty went up by 197 points holding the previous days close on a dip before closing higher by 157 points on Tuesday 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 02nd Mar :

Nifty triggered our long trade and nearly completed 2 targets doing 70 points  . 

For 03rd Mar :

 

Sustaining above 15020 enter for 15080 - 15150 - 15340 , SL 14950

Sustaining below 14820 enter for 14760 - 14685 - 14500 , SL 14890

 

Now for this week :

Nifty has immediate resistance at 14760 - 14830 zone and sustaining or closing above it we may see a further move towards 15000 - 15060 zone 

Nifty has immediate support at 14300 - 14230 zone and sustaining or closing below it we may see a further move towards 14060 - 14000 zone . 

So far this week Nifty has made a high 14959.10 breaking above our initial resistance zone of 14760 - 14830 and also closed above . Now Nifty sustaining above 14830 in the coming session can make a move towards next targets of 15000 - 15060 where it can face some resistance .

Overall now Nifty needs to sustain and close above 15150 for any strength to be resumed on the upside in March .

Caution advised on entering fresh longs positions on further rise towards 15000 - 15150 unless we get a strong close above 15150. Those who are looking to short should also keep 15175 as strict cbsl for positions entered .

 

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.