Nifty Outlook for 27th Aug

 In the previous session :

Nifty went up by 49 points then went down by 31 points before closing higher by 2 points on Thursday.

Nifty made a new life time high of 16712.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 26th Aug :-

Nifty triggered our long trade and took our stoploss . Post that Nifty traded between our long and short trigger range indicating indecisiveness . 

For 27th Aug :-

Sustaining above 16670 enter for 16685 - 16710 - 16765 , SL 16645

Sustaining below 16605 enter for 16585 - 16565 - 16505 , SL 16630

Now for this week :

Nifty has immediate resistance at 16495 - 16525 zone and sustaining or closing above we may see a further move towards 16605 - 16625 zone

Nifty has immediate support at 16405 - 16375 zone and sustaining or closing below that we may see a move towards 16295 - 16275 zone

So far this week Nifty made a high of 16712.45 breaking above our next resistance zone and testing our last target zone of 16695 - 16765 . Now in the coming session Nifty has to hold above 16560 on dips and has to sustain above 16710 for a further upmove . Breaking and sustaining below 16560 we can see a dip again towards 16495 - 16455 levels. 

In the month of July Nifty made a high of 15962.25 and made a low of  15513.45 .

As mentioned at the start of the month "For the month of August Nifty has to give a consecutive close above 15975 for a further move on the upside .  On the downside Nifty has to give a consecutive close below 15550 for a further correction." , and we saw Nifty make a high of 16712.45 giving a 740 points move post a consecutive close above 15975 . 

Nifty completed all our expected targets on the upside of 16650 - 16700 zone with a high of 16712.45 and we can see some profit booking from there .

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