Nifty Outlook for 12th Jul

 In the previous session :

Nifty went down by 105 points then went up by 28 points before closing lower by 4 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 11th Jul :-

Nifty triggered our short trade with a big gap down below our 2nd target for the day and did not give a entry to trade . 

For 12th Jul :-

Sustaining above 16245 enter for 16265 - 16290 - 16345 , SL 16225

Sustaining below 16185 enter for 16165 - 16145 - 16085 , SL 16205

Now for this week :

On the upside :

Nifty has to sustain and close above 16270 - 16300 where it has its initial resistance to move towards next targets of 16385 - 16410 . 

Closing above 16410 Nifty may move towards further targets of 16480 - 16560 .

On the downside :

Nifty has to sustain and close below 16170 - 16140 where it has its initial support to move towards next targets of 16060 - 16030 . 

Closing below 16030 Nifty may move towards further targets of 15960 - 15880 .

So far this week Nifty made a low of 16115.50 breaking below our initial weekly support zone and bounced back to close at 16216. Now in the coming session Nifty has immediate resistance at 16270 - 16300 which it needs to break and sustain for a further move towards 16385 - 16410 . On the downside Nifty breaking and sustaining below 16140 has immediate next weekly support at 16060 - 16030.

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.