Nifty Outlook for 24th Mar

 In the previous session :

Nifty went up by 126 points then went down by 116 points before closing lower by 70 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 23rd Mar :-

Nifty initially triggered our long trade with a gap up above our 1st target and took our stoploss . Post that Nifty reversed to trigger our short trade but did not complete any targets .

For 24th Mar :-

Sustaining above 17320 enter for 17370 - 17425 - 17560 , SL 17270

Sustaining below 17170 enter for 17120 - 17070 - 16930 , SL 17220

Now for this week :

On the upside :

Nifty has to sustain and close above 17445 - 17545 where it has its initial resistance to move towards next targets of 17810 - 17880 . 

Closing above 17880 Nifty may move towards further targets of 18110 - 18360.

On the downside :

Nifty has to sustain and close below 17130 - 17030 where it has its initial support to move towards next targets of 16760 - 16690 . 

Closing below 16690 Nifty may move towards further targets of 16460 - 16200 .

So far this week Nifty made a low of 17006 breaking our initial weekly support zone and bounced back today till 17442.40 and closed at 17245.65 . 

Had mentioned this yesterday "Now in the coming session Nifty has immediate resistance at 17445 - 17545 zone which it needs to break and close above for a further move else we can see some selling again from this zone . On the downside Nifty has immediate support at 17230 - 17190 zone and below it at 17130 - 17030 zone." , and we saw Nifty today reverse from 17442 . There is no change in view for now .

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.