Nifty Outlook for 02nd Sep

 In the previous session:

Nifty went down by 290 points before closing lower by 216 points on Thursday

Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 01st Sep :-

Nifty triggered our short trade with a big gap down near our last target and did not give a entry. 

For 02nd Sep :-

Sustaining above 17625 enter for 17675 - 17735 - 17890, SL 17570

Sustaining below 17460 enter for 17410 - 17350 - 17200, SL 17520

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17640 - 17690 to move towards initial long targets of 17830 - 17870. 

Closing above 17870 Nifty may move towards next long targets of 17985 - 18115

On the downside:

Nifty has to sustain and close below its immediate support at 17475 - 17425 to move towards initial short targets of 17285 - 17250. 

Closing below 17250 Nifty may move towards next targets of 17130 - 17000.

So far this week Nifty has made a low of 17166.20 completing our initial weekly short targets and almost reaching our last target zone of 17130 - 17000 and has post that bounced back to make a high of 17777.65 breaking above its initial resistance zone and closed today at 17542.80. Now in the coming session Nifty has immediate resistance at 17640 - 17690 zone and has to break and sustain above it for a move towards 17830 - 17870. On the downside Nifty has immediate support at 17475 - 17425 and has to break and sustain below it for a further dip towards 17285 - 17250. 

In case 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.