Nifty Outlook for 16th Mar

 In the previous session :

Nifty went up by 56 points then went down by 316 points before closing lower by 208 points on Tuesday.

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 15th Mar :-

Nifty triggered our short trade and completed 2 targets and more doing 220 points. 

For 16th Mar :-

Sustaining above 16760 enter for 16815 - 16880 - 17060 , SL 16690

Sustaining below 16570 enter for 16510 - 16445 - 16265 , SL 16635

Now for this week :

On the upside :

Nifty has to break and sustain above 16775 - 16865 where it has its initial resistance to move towards next targets of 17120 - 17180 . 

Sustaining or closing above 17180 Nifty may move towards further targets of 17395 - 17630.

On the downside :

Nifty has to break and sustain below 16485 - 16395 where it has its initial support to move towards next targets of 16145 - 16080 . 

Sustaining or closing below 16080 Nifty may move towards further targets of 15865 - 15630 .

So far this week Nifty has made a high of 16927.75 breaking above our initial weekly resistance and reversed till 16555 before closing at 16663 today.  Now in the coming session Nifty has immediate resistance at 16775 - 16865 which it needs to break and sustain above for the next move towards 17120  -17180 .  On the downside Nifty has immediate support at 16485 - 16395 on dips which it needs to hold to bounce back again.

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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.