Nifty Outlook for 09th Nov

  In the previous session:

Nifty went up by 138 points then went down by 52 points before closing higher by 85 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 07th Nov:

Nifty opened big a gap up near our last target and did not give a trade. Had shared revised levels on telegram based on which we got a short trade and 100 points.

For 09th Nov:

Sustaining above 18240 enter for 18260 - 18285 - 18350, SL 18215

Sustaining below 18165 enter for 18145 - 18120 - 18050, SL 18190

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18180 - 18220 to move towards initial long targets of 18320 - 18350. 

Closing above 18350 Nifty may move towards next long targets of 18430 - 18530

On the downside:

Nifty has to sustain and close below its immediate support at 18060 - 18020 to move towards initial short targets of 17915 - 17880. 

Closing below 17880 Nifty may move towards next targets of 17800 - 17700.

So far this week Nifty has made a high of 18255.50 breaking above our weekly resistance zone of 18180 - 18220 and went down till 18064.75 almost testing our weekly support zone of 18060 - 18020 and closed at 18202.80.

Now in the coming session Nifty has to break and sustain above 18220 for a move towards 18320 - 18350. On the downside Nifty has immediate support at 18060 - 18020 and for a further correction it needs to break and sustain below 18020 for a move towards 17915 - 17880.

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.