Nifty Outlook for 27th May

 In the previous session :

Nifty went down by 13 points then went up by 111 points before closing higher by 93 points on Wednesday.

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

On 26th May :

Nifty triggered our long trade and just managed to do 1 target doing 50 points. This was the third day it has been facing selling pressure on moving up and is trading in a narrow range. 

For 27th May :

Sustaining above 15355 enter for 15385 - 15425 - 15520 , SL 15315

Sustaining below 15250 enter for 15220 - 15180 - 15090 , SL 15285

Now for this week :

Nifty has immediate resistance at 15275 - 15340 zone and sustaining or closing above we may see a further move towards 15510 - 15550 zone

Nifty has immediate support at 15075 - 15015 and sustaining or closing below that we may see a move towards 14840 - 14800 zone

So far this week Nifty has made a high of 15319.90 testing the initial resistance zone. Now unless Nifty breaks and sustains or closes above this zone we may continue to see profit booking 

Now as long as Nifty is closing above 15075 on dips we can see it bounce back . On the upside Nifty can see some selling pressure near 15275 - 15340 this week and has to sustain or close above 15340 for a new all time high.. 

Overall for May  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 .

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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.