Nifty Outlook for 04th Nov

  In the previous session:

Nifty went down by 133 points then went up by 23 points before closing lower by 30 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 03rd Nov:

Nifty triggered our short trade with a big gap down near our last target and did not give a trade. Had posted revised levels on telegram and we got a long trade which did 80 points.

For 04th Nov:

Sustaining above 18090 enter for 18115 - 18140 - 18210, SL 18065

Sustaining below 18015 enter for 17990 - 17965 - 17900, SL 18040

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17840 - 17870 to move towards initial long targets of 17940 - 17970. 

Closing above 17970 Nifty may move towards next long targets of 18030 - 18100

On the downside:

Nifty has to sustain and close below its immediate support at 17740 - 17710 to move towards initial short targets of 17630 - 17610. 

Closing below 17610 Nifty may move towards next targets of 17550 - 17470.

So far this week Nifty has made a high of 18178.75 completing all our weekly long targets till 18100 and today corrected till 17959.20 and closed today at 18052.70

Now in the coming sessions Nifty has immediate resistance at 18150 - 18200 zone on further upmove. On the downside Nifty has immediate support at 17950 as mentioned previously too which it needs to hold else breaking and sustaining below it Nifty can fall further towards 17850. 

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.