Nifty Outlook for 11th May

 In the previous session :

Nifty went up by 144 points before closing higher by 119 points on Monday.

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

On 10th May :

Nifty triggered our long trade with a gap up above our 1st target and  and completed 2 targets doing 40 points.

For 11th May :

Sustaining above 15000 enter for 15030 - 15070 - 15170 , SL 14960

Sustaining below 14885 enter for 14855 - 14815 - 14715 , SL 14925

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

So far this week Nifty has made a high of 14966.90 testing our initial resistance zone. Now Nifty needs to sustain above 14815 on dips and break and sustain above 14970 for further move towards 15125 - 15165  

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.