Sunday 4 July 2021

Nifty Outlook for 05th Jul

 In the previous session :

Nifty went down by 44 points then went up by 58 points before closing higher by 42 points on Friday.



Nifty made a new life time high of 15915.65 in this upmove from the lows of 7511.10 made on 24th March 2020



On 02nd Jul :

Nifty triggered our short trade and completed just 1 targets and took our TS. Post that Nifty triggered our long trade and did 2 targets giving 23 points . The index is moving in a narrow range and vix is also down hence targets are small too .

For 05th Jul :

Sustaining above 15755 enter for 15765 - 15780 - 15820 , SL 15730

Sustaining below 15690 enter for 15680 - 15665 - 15625 , SL 15715


Now for this week :

Nifty has immediate resistance at 15760 - 15785 zone and sustaining or closing above we may see a further move towards 15850 - 15870 zone

Nifty has immediate support at 15685 - 15660 and sustaining or closing below that we may see a move towards 15595 - 15575 zone

Nifty has to break and close beyond the sideways trading range of 15550 - 15900 for a bigger move in this month . 

In the month of June Nifty made a high of 15915.65 and made a low of  15450.90 .

Our cbsl for shorts in June was 15900 which was tested on a couple of occasions but held out.

For the month of July Nifty has to give a consecutive close above 15895 for a further move on the upside .  On the downside Nifty has to give a consecutive close below 15550 for a further correction.


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.

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