Nifty Outlook for 06th Apr

 In the previous session : 

Nifty went down by 408 points before closing lower by 230 points on Monday 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 05th Apr :

Nifty triggered our short trade and completed all targets and more doing 330 points . 

For 06th Apr :

 

Sustaining above 14720 enter for 14765 - 14820 - 14970 , SL 14660

Sustaining below 14560 enter for 14510 - 14455 - 14305 , SL 14615

 

Now for this week :

Nifty has immediate resistance at 14995 - 15070 zone and sustaining or closing above it we may see a further move towards 15285 - 15340 zone 

Nifty has immediate support at 14740 - 14660 zone and sustaining or closing below it we may see a further move towards 14450 - 14390 zone . 

So far this week Nifty has broken supports and triggered shorts and has made a low of 14459.50 near our next support zone of 14450 - 14390 and bounced back 200 points . 

Now Nifty has immediate resistance near 14660 - 14740 and unless it breaks and sustains above it will come under pressure . On the downside it has to hold the support at 14450 - 14390 else we can see a retest of March month lows and further correction below it too towards 14210 - 14000 levels

In the month of March 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 14264.40 .

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

Join our Telegram Channel "simplytradestocks" for live stock trading ideas during market hours                                      

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.