Wednesday 28 July 2021

Nifty Outlook for 29th Jul

 In the previous session :

Nifty went up by 21 points then went down by 233 points before closing lower by 37 points on Wednesday.



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 28th Jul :

Nifty triggered our short trade and completed all targets and more doing 190 points .

For 29th Jul :-

Sustaining above 15750 enter for 15770 - 15800 - 15870 , SL 15720

Sustaining below 15670 enter for 15650 - 15620 - 15545 , SL 15700

Now for this week :

Nifty has immediate resistance at 15925 - 15965 zone and sustaining or closing above we may see a further move towards 16075 - 16105 zone

Nifty has immediate support at 15790 - 15750 zone and sustaining or closing below that we may see a move towards 15635 - 15605 zone

So far this week Nifty made a high of 15893.35 and then reversed to make a low of 15513.45 breaking our next supports but managed to close back above 15700.  Todays low was the lowest level of this month . 

Now has immediate resistance at 15750 - 15790 zone and it needs to sustain or close above it for a further move towards 15850 - 15900 levels .

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" .

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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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