Nifty Outlook for 15th Sep

 In the previous session : 

Nifty went up by 104 points then went down by 80 points before closing lower by 24 points on Monday as compared to the previous day's close.

Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 

On 14th  Sep :

Nifty triggered our long trade and completed 2 targets giving 50 points and then took our TSL . Post that Nifty triggered our short trade and again nearly completed 2 targets doing nearly 50 points. Nifty indicated indecisiveness one again after Friday today and we should see a trend emerge now in one direction for the coming session. 

For 15th Sep :

 

Sustaining above 11475 enter for 11500 - 11525 - 11590 , SL 11450

Sustaining below 11405 enter for 11385 - 11355 - 11290 , SL 11430

For this week Nifty has immediate support at 11405 - 11370 zone and sustaining below it we can see a further correction towards its next support zone at 11265 - 11240 .

For this week Nifty has immediate resistance at 11525 - 11560 zone and sustaining above it we can see a further recovery towards the next resistance zone of 11655 - 11690 .

Today we saw Nifty make a high of 11568.90 and a low of 11383.55 and its traded within the overall weekly support and resistance zone of 11370 - 11560. Nifty needs to sustains beyond this range on good volumes for a trending move.

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on 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.