Nifty Outlook for 26th Apr

In the previous session :

Nifty went down by 283 points before closing lower by 218 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 25th Apr :-

Nifty triggered our short trade with a gap down below our 1st short target and fell further almost completing all targets and doing 150 points. 

For 26th Apr :-

Sustaining above 17025 enter for 17065 - 17115 - 17240 , SL 16975

Sustaining below 16885 enter for 16845 - 16795 - 16665 , SL 16935

Now for this week :

On the upside :

Nifty has to sustain and close above 17290 - 17360 where it has its initial resistance to move towards next targets of 17560 - 17610 . 

Closing above 17610 Nifty may move towards further targets of 17780 - 17970.

On the downside :

Nifty has to sustain and close below 17050 - 16980 where it has its initial support to move towards next targets of 16780 - 16730 . 

Closing below 16730 Nifty may move towards further targets of 16570 - 16380.

So far this week Nifty made a low of 16888.70 breaking below our initial weekly support zone and also closed below it at 16953.95 . Now in the coming session Nifty has immediate resistance at 16980 - 17050 which it needs to break and sustain above for a further move towards 17150 - 17250. On the downside sustaining below 16980 Nifty can move towards 16780 - 16730 where it has its next support.

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 immediate good support at 17200 - 17000 zone which it needs to hold on corrections else closing below we may see a further move towards 16800 - 16700 .

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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.