Nifty Outlook for 06th Sep

In the previous session :

Nifty went down by 22 points and then went up by 106 points before closing higher by 89 points on Friday.

Nifty made a new life time high of 17340.10 in this upmove from the lows of 7511.10 made on 24th March 2020

On 03rd Sep :-

Nifty triggered our long trade and completed 2 targets doing 70 points . 

For 06th Sep :-

Sustaining above 17360 enter for 17380 - 17405 - 17470 , SL 17335

Sustaining below 17285 enter for 17265 - 17240 - 17180 , SL 17315

Now for this week :

Nifty has immediate resistance at 17380 - 17415 zone and sustaining or closing above we may see a further move towards 17515 - 17540 zone

Nifty has immediate support at 17265 - 17230 zone and sustaining or closing below that we may see a move towards 17135 - 17110 zone

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.