Nifty Outlook for 19th Apr

 In the previous session :

Nifty went down by 407 points before closing lower by 302 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 18th Apr :-

Nifty triggered our short trade with a big gap down at our last short target and did not give a chance to trade. 

For 19th Apr :-

Sustaining above 17245 enter for 17285 - 17340 - 17470 , SL 17195

Sustaining below 17100 enter for 17060 - 17000 - 16880 , SL 17150

Now for this week :

On the upside :

Nifty has to sustain and close above 17590 - 17660 where it has its initial resistance to move towards next targets of 17850 - 17900 . 

Closing above 17900 Nifty may move towards further targets of 18050 - 18250.

On the downside :

Nifty has to sustain and close below 17360 - 17290 where it has its initial support to move towards next targets of 17100 - 17050 . 

Closing below 17050 Nifty may move towards further targets of 16890 - 16700 .

So far this week Nifty made a low of 17067.85 testing our next weekly support zone of 17100 - 17050 and bounced back to close at 17173.65. Now in the coming sessions Nifty has to hold its immediate support at 17100 - 17050 to bounce back towards its immediate resistance zone at 17290 - 17360 . A close below 17000 will open doors for a move till 16890 - 16700. A close above 17360 can take it further towards 17590 - 17660 .

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.

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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.