Nifty Outlook for 18th Mar

  In the previous session : 

Nifty went up by 46 points then went down by 214 points before closing lower by 190 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 17th Mar :

Nifty triggered our short trade and nearly completed all targets doing 150+ points 

For 18th Mar :

 

Sustaining above 14765 enter for 14790 - 14820 - 14890 , SL 14735

Sustaining below 14680 enter for 14655 - 14625 - 14545 , SL 14710

 

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 14696.05 near the next support zone of 14680 - 14635 on sustaining below 14860 

As mentioned in the previous post "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." , today Nifty made a low of 14696.05 after failing to break above 15050. 

Now Nifty has to break and sustain below 14635 to correct further towards 14485 - 14315 where it may take some support .

Also as mentioned earlier "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" , and Nifty failed to sustain above 15290 and has now made a low of 14696.05. 

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.