Nifty Outlook for 06th Nov

 In the previous session:

Nifty went up by 400 points before closing higher by 386 points on Tuesday

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

On 04th Oct:

Nifty triggered our long trade with a big gap up near our last target and went up further by 120+ points. Revised levels were shared on telegram and we got a long trade triggered as per it and got 70 points. 

 

For 06th Oct:

Sustaining above 17360 enter for 17415 - 17480 - 17650, SL 17300

Sustaining below 17185 enter for 17130 - 17070 - 16900, SL 17245

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17210 - 17280 to move towards initial long targets of 17480 - 17530. 

Closing above 17530 Nifty may move towards next long targets of 17700 - 17880

On the downside:

Nifty has to sustain and close below its immediate support at 16980 - 16910 to move towards initial short targets of 16710 - 16660. 

Closing below 16660 Nifty may move towards next targets of 16490 - 16310.

So far this week Nifty has made a low of 16855.55 breaking below our weekly support and post that bounced back to make a high of 17287.30 breaking above our weekly resistance and closed at 17274.30

Now in the coming session Nifty sustaining above 17280 can move towards 17480 -17530 where it has its initial weekly targets. On the downside Nifty breaking and sustaining below 17210 has support at 17130 - 17040. 

In case 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.