Nifty Outlook for 07th Jul

 In the previous session :

Nifty went down by 10 points then went up by 200 points before closing higher by 179 points on Wednesday

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 06th Jul :-

Nifty triggered our long trade and completed all targets and more doing 160+ points. 

For 07th Jul :-

Sustaining above 16025 enter for 16040 - 16065 - 16125 , SL 16000

Sustaining below 15955 enter for 15935 - 15915 - 15855 , SL 15980

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 16025.75 almost testing our next weekly resistance and target zone of 16050 - 16090 and closed at 15989.80 . Now in the coming session Nifty has immediate resistance at 16050 - 16090 on the upside which it needs to break and sustain for a move towards 16150 - 16200 . On the downside Nifty has immediate support at 15900 - 15840 which it needs to break and sustain for a move towards 15700 - 15650.

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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.