Wednesday 9 February 2022

Nifty Outlook for 10th Feb

 In the previous session :

Nifty went up by 210 points before closing higher by 197 points on Wednesday.

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 09th Feb :-

Nifty triggered our long trade and competed 2 targets and more doing 138 points. 


For 10th Feb :-

Sustaining above 17535 enter for 17580 - 17635 - 17770 , SL 17485

Sustaining below 17390 enter for 17345 - 17295 - 17155 , SL 17440


Now for this week :

Nifty has to break and sustain above 17660 - 17750 where it has its initial resistance to move towards next targets of 17990 - 18060 . Sustaining or closing above 18060 Nifty may move towards further targets of 18265 - 18500.

Nifty has to break and sustain below 17375 - 17285 where it has its initial support to move towards next targets of 17040 - 16970 . Sustaining or closing below 16970 Nifty may move towards further targets of 16770 - 16540 .

So far this week Nifty made a low of 17043.65 nearly testing our next weekly support zone of 17040 - 16970 and today bounced back to close at 17463.80 after making a high of 17477.15 . Now in the coming session Nifty has immediate resistance at 17660 - 17750 and needs to break and sustain above it for a further move.  Nifty has immediate support now at 17375 - 17285 and needs to hold it on a correction to bounce back else on breaking and sustaining below it next support comes at 17040 - 16970. 

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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