Nifty Outlook for 05th Mar

  In the previous session : 

Nifty went up by 265 points before closing lower by 165 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 04th Mar :

Nifty triggered our short trade and completed 2 targets doing 140 points  . 

For 05th Mar :

 

Sustaining above 15190 enter for 15260 - 15335 - 15545 , SL 15115

Sustaining below 14970 enter for 14905 - 14825 - 14620 , SL 15045

 

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 15273.15 breaking above our next resistance zone of 15000 - 15060 and also closed well above it . Now Nifty has immediate support on dips near 15060 - 15000 which should hold for the momentum to continue on the upside and move towards 15355 - 15425 and towards a new life time high .

Nifty needs to start sustaining above 15150 to continue moving up towards 15355 - 15425 and failing to do so and sustaining below 15000 we can see it move towards 14820 - 14750 . Tomorrow is a weekly close too and a close above 15215 would be a good close for longs.

 

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.