Nifty Outlook for 25th Mar

 In the previous session :

Nifty went down by 154 points then went up by 46 points before closing lower by 23 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 24th Mar :-

Nifty triggered our short trade with a gap down near our 2nd target and and did not give a chance to trade . Post that Nifty traded mostly between our long and short trigger range indicating indecisiveness. 

For 25th Mar :-

Sustaining above 17300 enter for 17340 - 17395 - 17535 , SL 17245

Sustaining below 17150 enter for 17105 - 17050 - 16910 , SL 17200

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 till 17442.40 in the previous session and today closed at 17222.75 . 

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 reverse from 17442 and today it reversed from the support zone of 17130 - 17030 . There is no change in view for now . Keep trading the range till it breaks and closes on either side.

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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.