Nifty Outlook for 05th Jul

 In the previous session :

Nifty went down by 90 points then went up by 100 points before closing higher by 83 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 Jul :-

Nifty initially triggered our short trade and just completed 1 target and more doing 200+ points. 

For 05th Jul :-

Sustaining above 15880 enter for 15905 - 15940 - 16020 , SL 15850

Sustaining below 15790 enter for 15765 - 15730 - 15650 , SL 15820

Now for this week :

On the upside :

Nifty has to sustain and close above 15840 - 15900 where it has its initial resistance to move towards next targets of 16050 - 16090 . 

Closing above 16090 Nifty may move towards further targets of 16220 - 16360 .

On the downside :

Nifty has to sustain and close below 15660 - 15610 where it has its initial support to move towards next targets of 15460 - 15410 . 

Closing below 15410 Nifty may move towards further targets of 15285 - 15140 .

So far this week Nifty today made a low of 15661.80 almost testing our initial weekly support zone of 15660 - 15610 and bounced back to make a high of 15852.35 testing our initial weekly resistance zone of 15840 - 15900 and closed at 15835.35. Now in the coming session Nifty has to break and sustain above 15900 to move towards its next weekly resistance and target zone of 16050 - 16090. On the downside Nifty has immediate support at 15660 - 15610,

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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.