Monday 6 September 2021

Nifty Outlook for 07th Sep

 In the previous session :

Nifty went up by 106 points before closing higher by 54 points on Monday.



Nifty made a new life time high of 17429.55 in this upmove from the lows of 7511.10 made on 24th March 2020


On 06th Sep :-

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

For 07th Sep :-

Sustaining above 17415 enter for 17435 - 17460 - 17525 , SL 17385

Sustaining below 17340 enter for 17320 - 17295 - 17230 , SL 17370

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

So far this week Nifty made a high of 17429.55 breaking above our initial resistance zone and closed just below it. Now in the coming session Nifty has to hold above 17310 on dips and breaking below it we can see some correction. On the upside Nifty has to sustain above 17460 for some further upmove. We may see Nifty face some resistance from here on further upmoves and caution advised in taking fresh long positions in Nifty.

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 . 

As as mentioned at the start of the month "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. " , today Nifty has given its first close above 17355 and we need a consecutive close above it tomorrow to expect a further move directly towards 17590 - 17650 failing which we may see a dip.


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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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