Nifty Outlook for 23rd Apr

 In the previous session : 

Nifty went down by 145 points then went up by 128 points before closing higher by 110 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 22nd Apr :

Nifty initially triggered our short trade and completed just 1 target and took our TSL. Post that Nifty triggered our long trade and again completed just 1 target indicating indecisiveness in direction. 

For 23rd Apr :

 

Sustaining above 14485 enter for 14535 - 14590 - 14740 , SL 14430

Sustaining below 14325 enter for 14280 - 14220 - 14075 , SL 14380

 

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 14151.40 within our next weekly support zone of 14185 - 14125 and bounced back to close above 14400 . 

As mentioned in the previous post " 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 .", we saw Nifty make a low of 14151.40 and bounce back holding 14125 to close above 14400.

Now in the coming session Nifty has to break above 14405 - 14485 resistance zone to move up further towards 14600 - 14700 and unable to break above 14484 we can see a dip again.

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.