Nifty Outlook for 19th Jul

 In the previous session :

Nifty went up by 38 points then went down by 42 points before closing lower by just 0.80 points on Friday.

Nifty made a new life time high of 15952.35 in this upmove from the lows of 7511.10 made on 24th March 2020

On 16th Jul :

Nifty initially triggered our long trade and took our stoploss. Post that Nifty reversed and triggered our short trade and again took our SL indicating indecisiveness.

For 19th Jul :-

Sustaining above 15960 enter for 15975 - 15990 - 16045 , SL 15935

Sustaining below 15885 enter for 15870 - 15855 - 15805 , SL 15915

Now for this week :

Nifty has immediate resistance at 15970 - 16000 zone and sustaining or closing above we may see a further move towards 16075 - 16100 zone

Nifty has immediate support at 15875 - 15850 zone and sustaining or closing below that we may see a move towards 15770 - 15750 zone

Now as long as Nifty is holding 15750 on corrections we can see it bounce back towards 16000.

But from here Nifty is also going to approach a stiff resistance zone of 16050 - 16150 which it would need to cross and close above for a bigger move else we may see a correction again. 

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.

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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.