Nifty Outlook for 02nd Nov

  In the previous session : 

Nifty went up by 78 points then went down by 135 points before closing lower by 28 points on Friday 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 30th Oct :

Nifty initially triggered our long trade and did 1 target and took our TSL. Post that it reversed to trigger our short trade and completed nearly all targets doing 90 points 

For 02nd Nov :

 

Sustaining above 11675 enter for 11695 - 11720 - 11785 , SL 11650

Sustaining below 11610 enter for 11590 - 11565 - 11500 , SL 11635

 

Now for this week :

Nifty has immediate resistance at 11700 - 11730 zone and closing above it we may see a further move towards 11825 - 11850 zone 

Nifty has immediate support at 11590 - 11550 zone and closing below it we may see a further move towards 11460 - 11435 zone . 

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.