Nifty Outlook for 02nd Sep

 In the previous session :

Nifty went up by 97 points and then went up by 73 points before closing lower by 52 points on Wednesday.

Nifty made a new life time high of 17225.75 in this upmove from the lows of 7511.10 made on 24th March 2020

On 01st Sep :-

Nifty triggered our long trade and completed 2 targets doing 55 points . Post that Nifty reversed to trigger our short trade and completed 1 target doing just 25 points. 

For 02nd Sep :-

Sustaining above 17120 enter for 17145 - 17175 - 17250 , SL 17090

Sustaining below 17035 enter for 17010 - 16980 - 16905 , SL 17065

Now for this week :

Nifty has immediate resistance at 16750 - 16775 zone and sustaining or closing above we may see a further move towards 16845 - 16865 zone

Nifty has immediate support at 16665 - 16635 zone and sustaining or closing below that we may see a move towards 16565 - 16545 zone

So far this week Nifty made a high of 17225.75 breaking above our new resistance zone of 17015 - 17030 and nearly completed the targets at 17180 - 17350 . Now in the coming session Nifty has to break and sustain above 17145 to retest its all time time high and failing to do so we can some correction towards 17030 - 17015 and below it towards 16965 - 16900 next . 

In the month of August Nifty made a high of 17129.25 and made a low of  15834.65 

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 17129.25 giving a 1150 points move post a consecutive close above 15975 . 

Now for the month of September Nifty has to give a consecutive close above 17355 for a further move on the upside . On the downside Nifty has to give a consecutive close below 16900 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.