Nifty Outlook for 06th Apr

In the previous session :

Nifty went up by 42 points then went down by 131 points before closing lower by 96 points on Tuesday.

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 05th Apr :-

Nifty triggered our short trade and completed 2 targets doing 70 points. 

For 06th Apr :-

Sustaining above 18015 enter for 18050 - 18090 - 18195 , SL 17975

Sustaining below 17900 enter for 17865 - 17825 - 17720 , SL 17940

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 has now corrected on profit booking till 17921.55 and closed at 17957.40 today . Now in the coming session Nifty has immediate support at 17900 - 17800 zone which it needs to hold for a bounce back . On the upside immediate resistance remains at 18150 - 18250 zone. 

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.