Nifty Outlook for 19th May

 In the previous session :

Nifty went up by 214 points before closing higher by 185 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 18th May :

Nifty triggered our long trade with a gap up above our 2nd target and  completed all targets still doing 90 points 

For 19th May :

Sustaining above 15155 enter for 15185 - 15220 - 15310 , SL 15120

Sustaining below 15060 enter for 15030 - 14990 - 14910 , SL 15090

Now for this week :

Nifty has immediate resistance at 14745 - 14785 zone and sustaining or closing above we may see a further move towards 14900 - 14930 zone

Nifty has immediate support at 14610 - 14570 and sustaining or closing below that we may see a move towards 14460 - 14430 zone

So far this week Nifty made a high of 15137.25 breaking above the broader trading range of 14200 - 15100 and also closed above it . Now Nifty has immediate support near 14930 and dips towards it may see buying support . 

Now as long as Nifty is closing above 15000 we can see it move up towards 15350 -15450 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 upmove.

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 .

Incase 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.