Nifty Outlook for 08th Jul

  In the previous session :

Nifty went up by 160 points before closing higher by 143 points on Thursday

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 07th Jul :-

Nifty triggered our long trade with a big gap up near our last target and did not give a entry to trade . 

For 08th Jul :-

Sustaining above 16165 enter for 16185 - 16210 - 16270 , SL 16140

Sustaining below 16100 enter for 16080 - 16060 - 16000 , SL 16125

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 16150.50 breaking our next weekly resistance and moving to our final weekly target zone of 16220 - 16360 and closed at 16132.90. Now in the coming session Nifty has to break and sustain above 16165 to move towards 16220 - 16360 . On the downside Nifty has immediate support at 16090 - 16050 which it needs to break and sustain for a move towards 15900 - 15850 where it has strong support .

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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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.