Nifty Outlook for 03rd May

 In the previous session : 

Nifty went down by 293 points before closing lower by 264 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 30th Apr :

Nifty triggered our short trade and completed  all targets doing 240 points 

For 03rd May :

 

Sustaining above 14695 enter for 14735 - 14780 - 14900 , SL 14650

Sustaining below 14565 enter for 14525 - 14480 - 14360 , SL 14610

 

Now for this week :

Nifty has immediate resistance at 14735 - 14800 zone and sustaining or closing above it we may see a further move towards 14980 - 15025 zone 

Nifty has immediate support at 14525 - 14460 zone and sustaining or closing below it we may see a further move towards 14285 - 14235 zone . 

Now on further corrections Nifty has strong support at 14415 - 14280 on the downside and incase of a consecutive close below it we can expect further declines. On the upside Nifty has strong resistance at 14850 - 14980 and it needs to give a consecutive close above it for further upmoves.

In the month of April we have seen a high of 15044.35 and we saw a low of 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.