Thursday 2 September 2021

Nifty Outlook for 03rd Sep

 In the previous session :

Nifty went down by 16 points and then went up by 169 points before closing higher by 158 points on Thursday.



Nifty made a new life time high of 17245.50 in this upmove from the lows of 7511.10 made on 24th March 2020


On 02nd Sep :-

Nifty triggered our long trade and completed all targets doing 125 points . 

For 03rd Sep :-

Sustaining above 17270 enter for 17290 - 17315 - 17380 , SL 17245

Sustaining below 17200 enter for 17180 - 17150 - 17085 , SL 17225

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 17245.50 breaking into target zone of 17180 - 17350 . Now in the coming session Nifty has to break and sustain above 17300 ideally for a further move towards 17350 and more.  On corrections Nifty has support at  17170 and needs to hold it else breaking and sustaining below it can retest 17075 . 

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.  

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