Nifty Outlook for 05th Apr

 In the previous session :

Nifty went up by 42 points then went up by 444 points before closing higher by 383 points on Monday.

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 04th Apr :-

Nifty triggered our long trade with a big gap up above our 2nd target based on the news of HDFC Bank and HDFC merger and still went up further by another 300 points. 

For 05th Apr :-

Sustaining above 18125 enter for 18155 - 18185 - 18290 , SL 18070

Sustaining below 17990 enter for 17960 - 17920 - 17820 , SL 18040

Now for this week :

On the upside :

Nifty has to sustain and close above 17740 - 17780 where it has its initial resistance to move towards next targets of 17900 - 17930 . 

Closing above 17930 Nifty may move towards further targets of 18030 - 18140.

On the downside :

Nifty has to sustain and close below 17600 - 17560 where it has its initial support to move towards next targets of 17440 - 17410 . 

Closing below 17410 Nifty may move towards further targets of 17310 - 17200 .

Overall Nifty has immediate good resistance at 17800 - 17900 zone which it needs to close above for the next move towards 18150 - 18250 zone

Overall Nifty has strong support at 17300 - 17200 zone which it needs to hold on corrections to continue moving up. Immediate support for Nifty is at 17400.

So far this week Nifty made a high of 18114.65 nearly completing all the weekly targets expected till 18030 - 18140 and closed at 18053.40 . Now in the coming session Nifty has to break and sustain above 18140 to move towards 18250 - 18350 zone where we may see some profit booking . On the downside Nifty has immediate support at 17700 - 17600 zone .

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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.