Nifty Outlook for 08th April

 In the previous session : 

Nifty went down by 33 points then went up by 196 points before closing higher by 135 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 07th Apr :

Nifty triggered our long trade and completed just 2 targets doing 105 points . 

For 08th Apr :

 

Sustaining above 14900 enter for 14950 - 15010 - 15165 , SL 14845

Sustaining below 14735 enter for 14685 - 14630 - 14475 , SL 14795

 

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 400 points now . 

As mentioned in the previous post "Now Nifty has immediate resistance near 14660 - 14740 and it needs to break and sustain above it to move up further towards 14810 -14870. 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" , Nifty broke above its immediate resistance and made a high of 14879.80 completing the move expected on the upside.

Now for a further upmove Nifty has to break and sustain above 14900 in the coming session for a move towards 14985 - 15070 . Nifty has stiff resistance near 15110 - 15240 on upmoves.

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"

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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.