Nifty Outlook for 27th Sep

 In the previous session:

Nifty went down by 349 points before closing lower by 311 points on Monday

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

On 26th Sep:

Nifty triggered our short trade with a big gap down below our 2nd target and fell further by 175+ points completing all targets and more. 

For 27th Sep:

Sustaining above 17080 enter for 17120 - 17170 - 17280, SL 17035

Sustaining below 16950 enter for 16915 - 16860 - 16750, SL 17000

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17430 - 17500 to move towards initial long targets of 17680 - 17730. 

Closing above 17730 Nifty may move towards next long targets of 17880 - 18050

On the downside:

Nifty has to sustain and close below its immediate support at 17220 - 17150 to move towards initial short targets of 16970 - 16920. 

Closing below 16920 Nifty may move towards next targets of 16770 - 16600.

So far this week Nifty made a low of 16978.30 testing our initial weekly short target zone of 16970 - 16920 and closed at 17016.30. 

Now in the coming session Nifty has immediate resistance at 17150 - 17220 which it needs to break and close above for a further bounce. On the downside Nifty has immediate support at 16970 - 16920 zone which it needs to break and sustain/close below for a further move towards its next weekly short target of 16770 - 16600.

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.