Wednesday 21 April 2021

Nifty Outlook for 22nd April

  In the previous session : 


Nifty went up by 167 points then went down by 152 points before closing lower by 63 points on Tuesday 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 20th Apr :

Nifty initially triggered our long trade with a big gap up near our 2nd daily target and did not give a chance to enter and then reversed . Post that Nifty triggered our short trade and nearly completed 2 targets doing 70 points. 

For 22nd Apr :
 
Sustaining above 14375 enter for 14425 - 14480 - 14630 , SL 14320

Sustaining below 14215 enter for 14170 - 14110 - 13960 , SL 14270

 

Now for this week :

Nifty has immediate resistance at 14750 - 14830 zone and sustaining or closing above it we may see a further move towards 15050 - 15110 zone 

Nifty has immediate support at 14485 - 14405 zone and sustaining or closing below it we may see a further move towards 14185 - 14125 zone . 

So far this week Nifty made a low of 14191.40 just above our next weekly support zone of 14185 - 14125. We can see some bounce as long as it holds above 14125 - 14185 but if Nifty gives a close within this zone then we can see further correction towards 13935 - 13725 .



So far in the month of April we have seen a high of 14984.15 but Nifty failed to close above 15000 and we saw a sharp correction of nearly 750 points till 14191.40 .








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. 

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