Nifty Outlook for 26th Apr

 In the previous session : 

Nifty went up by 55 points then went down by 132 points before closing lower by 65 points on Friday 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 23rd Apr :

Nifty triggered our short trade and completed just 1 target and took our TSL. Post that Nifty traded between our long and short trigger zone indicating indecisiveness. 

For 26th Apr :

 

Sustaining above 14420 enter for 14465 - 14520 - 14670 , SL 14365

Sustaining below 14265 enter for 14215 - 14160 - 14015 , SL 14320

 

Now for this week :

Nifty has immediate resistance at 14470 - 14550 zone and sustaining or closing above it we may see a further move towards 14760 - 14820 zone 

Nifty has immediate support at 14215 - 14135 zone and sustaining or closing below it we may see a further move towards 13920 - 13860 zone . 

As mentioned in the previous session " 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." , we saw Nifty make a high of 14461.15 and was unable to break above 14484 and we saw a decent dip as expected .

Now as long as Nifty holds above 14140 on closing and 14000 intraday we can see bounces from these dips . Closing below 14140 or breaking below 14000 we can see the correction extend till 13860 - 13710 too. 

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 800 points till 14151.40 .

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.