Nifty Outlook for 29th Jul

 In the previous session :

Nifty went up by 305 points before closing higher by 287 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 28th Jul :-

Nifty triggered our long trade with a gap up above our 2nd target and went up further by 175 points 

For 29th Jul :-

Sustaining above 16980 enter for 17015 - 17050 - 17150 , SL 16945

Sustaining below 16875 enter for 16845 - 16805 - 16710 , SL 16915

Now for this week :

On the upside :

Nifty has to sustain and close above 16795 - 16845 where it has its initial resistance to move towards next targets of 16975 - 17010 . 

Closing above 17010 Nifty may move towards further targets of 17120 - 17240 .

On the downside :

Nifty has to sustain and close below 16640 - 16590 where it has its initial support to move towards next targets of 16465 - 16430 . 

Closing below 16430 Nifty may move towards further targets of 16320 - 16200 .

So far this week Nifty has made a low of 16438. 75 testing our weekly short targets zone of 16465 - 16430 and bounced back sharply till 16947.65 today breaking above our resistance zone of 16798 - 16845 and closed today at 16929.60 . Now in the coming session Nifty has sustaining above 16800 can move towards 16975 - 17010 where it has its initial weekly long target zone. On the downside Nifty has immediate support at 16800 and on breaking and sustaining below which Nifty can move down again towards 16700 - 16600  .

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

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.