Tuesday 28 September 2021

Nifty Outlook for 29th Sep

  In the previous session :

Nifty went up by 57 points then went down by 279 points before closing lower by 106 points on Tuesday.



Nifty made a new life time high of 17947.65 in this upmove from the lows of 7511.10 made on 24th March 2020


On 28th Sep :-

Nifty triggered our long trade but did not complete any target and took our stoploss. Post that Nifty triggered our short trade and completed all targets and more doing 225 points. 

For 29th Sep :-

Sustaining above 17800 enter for 17830 - 17870 - 17965 , SL 17765

Sustaining below 17695 enter for 17665 - 17630 - 17530 , SL 17735

Now for this week :

Nifty has to break and sustain above 17935 - 17985 where it has its initial resistance for a further move towards 18125 - 18160 where it has its next resistance for the week

Nifty has to break and sustain below 17770 - 17720 where it has its initial support for a further move towards 17585 - 17550 where it has its next support for the week

So far this week Nifty has made a high of 17943.50 testing our initial resistance . Post that Nifty corrected till 17576.10 testing our next support zone and bounced back to close at 17748.60. Now in the coming session Nifty has to sustain above 17720 - 17770 to move back towards 17935 - 17985 . On the downside Nifty has immediate support near 17585 - 17550 and breaking below it we may see a move towards 17430 - 17300 . 

In the month of August Nifty made a high of 17129.25 after confirming our monthly long trade with a consecutive close above 15975 and did nearly 1150 points. 

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. " , and now Nifty has made a new high of 17947.65 . 

As mentioned earlier "Now Nifty needs to give a close above 17655 for a further move towards 17850 - 18080 zone failing which we may see a dip towards 17350 - 17270. We are now above the caution zone advised for taking fresh long positions. ", and Nifty sustaining above 17655 made a high so far of 17947.65 testing our target zone of 17850 - 18080 .

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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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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