Wednesday 30 March 2022

Nifty Outlook for 31st Mar

 In the previous session :

Nifty went up by 197 points before closing higher by 173 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 30th Mar :-

Nifty triggered our long trade with a gap up above our 2nd daily target went up further by 70 points 

For 31st Mar :-

Sustaining above 17545 enter for 17570 - 17600 - 17685 , SL 17510

Sustaining below 17450 enter for 17425 - 17395 - 17310 , SL 17485

Now for this week :

On the upside :

Nifty has to sustain and close above 17275 - 17355 where it has its initial resistance to move towards next targets of 17565 - 17620 . 

Closing above 17620 Nifty may move towards further targets of 17800 - 18000.

On the downside :

Nifty has to sustain and close below 17030 - 16950 where it has its initial support to move towards next targets of 16740 - 16690 . 

Closing below 16690 Nifty may move towards further targets of 16510 - 16310 .

So far this week Nifty made a low of 17003.90 testing our initial support zone of 17030 - 16950 and bounced to make a high of 17552.50 today and closed at 17498.25. Now in the coming session Nifty has immediate resistance at 17565 - 17620 which it needs to cross and sustain / close above for further move towards 17800 - 18000 and failing to sustain / close above we may see a small correction due to profit booking . On the downside Nifty immediate support at 17275 - 17355 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.

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