Nifty Outlook for 20th Jul

 In the previous session :

Nifty went down by 91 points then went up by 81 points before closing higher by 62 points on Tuesday

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 19th Jul :-

Nifty triggered our short trade with a gap down near our 2nd target and did not give a chance to trade. Post that Nifty reversed to trigger our long trade and completed just 1 target doing 30 pts 

For 20th Jul :-

Sustaining above 16385 enter for 16415 - 16445 - 16525 , SL 16355

Sustaining below 16295 enter for 16270 - 16235 - 16155 , SL 16325

Now for this week :

On the upside :

Nifty has to sustain and close above 16120 - 16160 where it has its initial resistance to move towards next targets of 16270 - 16300 . 

Closing above 16300 Nifty may move towards further targets of 16400 - 16500 .

On the downside :

Nifty has to sustain and close below 15980 - 15940 where it has its initial support to move towards next targets of 15830 - 15800 . 

Closing below 15800 Nifty may move towards further targets of 15700 - 15600 .

So far this week Nifty made a high of 16359.50 breaking above our next weekly resistance zone of 16270 - 16300 and closed at 16340.55 . Now in the coming session Nifty sustaining above 16270 - 16300 can move towards our last weekly long target zone of 16400 - 16500. On the downside Nifty sustaining below 16270 has immediate support now at 16160 - 16120 which it needs to hold on dips to bounce back again.

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.