Nifty Outlook for 19th Mar

  In the previous session : 

Nifty went up by 156 points then went down by 243 points before closing lower by 163 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 18th Mar :

Nifty opened with a gap up near our last target and did not give a chance to trade . Post that Nifty reversed to trigger our short trade and completed all targets and more doing 200 points 

For 19th Mar :

 

Sustaining above 14600 enter for 14625 - 14655 - 14735 , SL 14570

Sustaining below 14515 enter for 14490 - 14460 - 14385 , SL 14545

 

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 14478.60 breaking below the next support zone of 14680 - 14635 and also closed below it .

As mentioned in the previous post "Now Nifty has to break and sustain below 14635 to correct further towards 14485 - 14315 where it may take some support ." , and today Nifty made a low of 14478.60 reaching the target zone.

Now as long as Nifty is sustaining below 14635 it can retest 14485 - 14315 . On the upside Nifty has immediate resistance at 14860 - 14925 zone now .

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 14478.60 

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 of nearly 900 points till 14478.60 .

Now Nifty has to hold 14450 on closing basis for a bounce back towards 14860 - 14925 initially.

 

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.