Tuesday 29 September 2020

Nifty Outlook for 30th Sep

 In the previous session : 


Nifty went up by 78 points then went down by 46 points before closing lower by 5 points on Tuesday 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 29th Sep :

Nifty triggered our long trade and took our stoploss. Post that Nifty traded between our long and short trigger zone indicating indecisiveness. 


For 30th Sep :
 


Sustaining above 11290 enter for 11330 - 11380 - 11505 , SL 11240


Sustaining below 11155 enter for 11115 - 11065 - 10945 , SL 11205


As mentioned in the previous post "Now for this week Nifty has immediate resistance at 11155 - 11215 zone and closing above it we may see a further move towards 11395 - 11435 zone . " , today Nifty made a high of 11305 after closing above 11215 in the previous session but could not sustain above 11300 but still managed another close above 11215 today .


On the downside Nifty has immediate support at 10950 - 10880 zone and below it we may see a further move towards 10705 - 10665 .

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.

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