Nifty Outlook for 11th Mar

In the previous session :

Nifty went up by 411 points before closing higher by 250 points on Thursday.

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 10th Mar :-

Nifty opened with a big gap up above all our targets and did not give a chance to take a trade . 

For 11th Mar :-

Sustaining above 16700 enter for 16760 - 16835 - 17030 , SL 16625

Sustaining below 16490 enter for 16430 - 16355 - 16160 , SL 16565

Now for this week :

On the upside :

Nifty has to break and sustain above 16435 - 16550 where it has its initial resistance to move towards next targets of 16875 - 16960 . 

Sustaining or closing above 16960 Nifty may move towards further targets of 17235 - 17545.

On the downside :

Nifty has to break and sustain below 16055 - 15935 where it has its initial support to move towards next targets of 15615 - 15530 . 

Sustaining or closing below 15530 Nifty may move towards further targets of 15255 - 14950 .

So far this week Nifty made a low of 15671.45 almost testing our next target zone of 15615 - 15530 and bounced back till 16757.30 today before closing at 16594.90 .

Now in the coming session Nifty has immediate support at 16550 - 16435 zone and has to hold above it on dips for a bounce. Nifty has immediate resistance at 16875 - 16960 which it will need to break and sustain above for more gains else it may see selling again . 

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.