Sunday 9 May 2021

Nifty Outlook for 10th May

 In the previous session :

Nifty went up by 138 points before closing higher by 98 points on Friday.



Nifty made a new life time high of 15431.75  in this upmove from the lows of 7511.10 made on 24th March



On 07th May :

Nifty triggered our long trade and completed 2 targets doing 75 points.

For 10th May :

Sustaining above 14880 enter for 14915 - 14955 - 15060 , SL 14840

Sustaining below 14765 enter for 14735 - 14695 - 14590 , SL 14805


Now for this week :

Nifty has immediate resistance at 14915 - 14970 zone and sustaining or closing above we may see a further move towards 15125 - 15165 zone

Nifty has immediate support at 14735 - 14675 and sustaining or closing below that we may see a move towards 14520 - 14480 zone

Overall 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  Nifty made a high of 15044.35 and made a low of  14151.40 .


Overall Bank Nifty needs to give a strong or consecutive close above 35140 to regain strength .

Inase of a gap up beyond the first target then for fresh updated levels intraday follow 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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