Nifty Outlook for 13th Jul

 In the previous session :

Nifty went up by 99 points then went down by 45 points before closing higher by 3 points on Monday.

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 12th Jul :

Nifty triggered our long trade and nearly completed all targets doing 65 points . Later Nifty reversed to trigger our short trade but did not complete any targets and took our stoploss 

For 13th Jul :

Sustaining above 15720 enter for 15735 - 15755 - 15805 , SL 15700

Sustaining below 15665 enter for 15650 - 15630 - 15580 , SL 15685

Now for this week :

Nifty has immediate resistance at 15735 - 15765 zone and sustaining or closing above we may see a further move towards 15840 - 15860 zone

Nifty has immediate support at 15645 - 15615 zone and sustaining or closing below that we may see a move towards 15540 - 15520 zone

So far this week Nifty made a high of 15789.20 breaking above our initial resistance zone but failed to sustain and close above it and reversed to make a low of 15644.75 testing our initial support zone. 

Now as long as Nifty is sustaining / closing above 15620 we can keep seeing a bounce towards our initial and next resistance zones . 

Overall 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 .

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" .

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.