Nifty Outlook for 30th May

 In the previous session :

Nifty went up by 200 points before closing higher by 182 points on Friday

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 27th May :-

Nifty initially triggered our long trade and completed 1 target and more doing 100 points. 

For 30th May :-

Sustaining above 16450 enter for 16510 - 16590 - 16780 , SL 16380

Sustaining below 16250 enter for 16190 - 16110 - 15930 , SL 16320

Now for this week :

On the upside :

Nifty has to sustain and close above 16520 - 16630 where it has its initial resistance to move towards next targets of 16900 - 16980 . 

Closing above 16980 Nifty may move towards further targets of 17210 - 17490.

On the downside :

Nifty has to sustain and close below 16180 - 16080 where it has its initial support to move towards next targets of 15800 - 15720 . 

Closing below 15720 Nifty may move towards further targets of 15480 - 15210 .

For the month : 

Overall Nifty has immediate good resistance at 17370 - 17540 zone which it needs to close above for the next move towards 17900 - 18100 zone

Overall Nifty has immediate good support at 16830 - 16660 zone which it needs to hold on corrections else closing below we may see a further move towards 16200 - 16100 . Closing below 16100 we can see Nifty move towards 15700 - 15500. 

Had mentioned earlier " Overall Nifty has its immediate next targets at 15700 - 15500 as long as its trading below 16100." , and so far Nifty has made a low of 15735.75 sustaining below 16100.

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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.