Wednesday 24 March 2021

Nifty Outlook for 25th Mar

 In the previous session : 


Nifty went down by 279 points before closing lower by 265 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 24th Mar :

Nifty triggered our short trade and completed all targets and more doing 200+ points . 


For 25th Mar :
 
Sustaining above 14600 enter for 14630 - 14670 - 14765 , SL 14565

Sustaining below 14500 enter for 14465 - 14430 - 14335 , SL 14535

 

Now for this week :

Nifty has immediate resistance at 14825 - 14915 zone and sustaining or closing above it we may see a further move towards 15015 - 15050 zone 

Nifty has immediate support at 14665 - 14575 zone and sustaining or closing below it we may see a further move towards 14475 - 14440 zone . 

So far Nifty made a low of 14535 breaking our immediate support zone and also closed below it . Now as long as Nifty is sustaining below 14575 or unable to break above 14665 we can see correction extend towards 14475 - 14440 zone . 


So far this month we have seen a high of 15336.30 but Nifty failed to close above 15290 and we saw a sharp correction of nearly 1000 points till 14350.10 .

Had mentioned in the previous post " Now for those who are expecting a correction again after this bounce should keep a cbsl of 15150 once Nifty breaks above 14915 and heads towards 15015 - 15050  zone for the week." , but Nifty did not break above 14915 to head up further and reversed from 14878.60 itself to make a low of 14535 in the next session.







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.

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