Nifty Outlook for 04th Feb

  In the previous session : 

Nifty went down by 74 points then went up by 221 points before closing higher by 142 points on Wednesday as compared to the previous day's close. 

Nifty  made a new life time high of 14868.85 in this upmove from the levels of  7511.10  . 

On 03rd Feb :

Nifty triggered our long trade and completed just 1 daily target giving 70 points

For 04th Feb :

 

Sustaining above 14910 enter for 14980 - 15065 - 15285 , SL 14825

Sustaining below 14670 enter for 14600 - 14515 - 14295 , SL 14755

 

Now for this week :

Nifty has immediate resistance at 13730 - 13790 zone and sustaining or closing above it we may see a further move towards 13950 - 13990 zone 

Nifty has immediate support at 13540 - 13480 zone and sustaining or closing below it we may see a further move towards 13320 - 13280 zone . 

So far this week Nifty has made a high of 14868.85 and now in the coming sessions as long as Nifty is sustaining above 14620 we can see a move towards 14950 - 15150 with a small hurdle at 14815 on closing basis .

Also once again caution is advised on entering fresh long positions in the index on moves towards 14950 - 15150.

 

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.