Nifty Outlook for 17th Mar

  In the previous session : 

Nifty went up by 122 points then went down by 39 points before closing lower by 19 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 16th Mar :

Nifty triggered our long trade and completed just 1 target and took our stoploss. Post that Nifty traded between our long and short trigger range indicating indecisiveness.

For 17th Mar :

 

Sustaining above 14970 enter for 15005 - 15045 - 15155 , SL 14930

Sustaining below 14850 enter for 14815 - 14775 - 14665 , SL 14890

 

Now for this week :

Nifty has immediate resistance at 15135 - 15200 zone and sustaining or closing above it we may see a further move towards 15380 - 15425 zone 

Nifty has immediate support at 14925 - 14860 zone and sustaining or closing below it we may see a further move towards 14680 - 14635 zone . 

So far this week , Nifty has made a low of 14745.85 breaking below the immediate support zone of 14925 - 14860 but managed to close just above it at 14929.50 .

Now in the coming sessions Nifty has to break and sustain above 15050 for a test of the immediate weekly resistance of 15135 - 15200 and failing to do so we can it retest this weeks low and move towards the next support zone of 14680 - 14635.

Overall Nifty needs to start sustaining or closing above 15290 to continue moving up towards 15375 - 15435 and failing to do so and as long as it sustains below 15000 we can see it move towards 14820 - 14750 . 

So far this month we have seen a high of 15336.30 but Nifty failed to sustain above it and we saw a sharp correction.

 

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.