Monday 25 October 2021

Nifty Outlook for 26th Oct

  In the previous session :

Nifty went up by 126 points then went down by 146 points before closing higher by 10 points on Monday.



Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020


On 25th Oct :-

Nifty initially triggered our long trade with a gap up above our 2nd long target and did not give a entry to trade. Post that Nifty reversed to trigger our short trade and completed 2 targets and more doing 100 points . 

For 26th Oct :-

Sustaining above 18170 enter for 18195 - 18225 - 18310 , SL 18135

Sustaining below 18080 enter for 18055 - 18025 - 17940 , SL 18115


Now for this week :

Nifty has to break and sustain above 18185 - 18230 where it has its initial resistance for a further move towards 18350 - 18380 where it has its next resistance for the week

Nifty has to break and sustain below 18045 - 18000 where it has its initial support for a further move towards 17880 - 17850 where it has its next support for the week

So far this week Nifty made a high of 18241.40 completing our initial weekly long targets and reversed to make a low of 17968.60 breaking below our initial weekly short target and closed above 18100. Now in the coming sessions Nifty has to hold above 17965 on dips and break and sustain above 18230 for a further move towards 18350 - 18380 , whereas breaking and sustaining below 17965 we can a move towards 17880 - 17850 on the downside.

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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