Nifty Outlook for 01st Mar

 In the previous session:

Nifty went down by 47 points then went down by 137 points before closing lower by 88 points on Tuesday

Nifty made a new lifetime high of 18887.60 on 01st Dec 2022 from the lows of 7511.10 made on 24th March 2020

On 28th Feb:

Nifty triggered our short trade and almost completed all targets doing 100 points.

For 01st Mar:

Sustaining above 17335 enter for 17350 - 17370 - 17425, SL 17310

Sustaining below 17275 enter for 17260 - 17235 - 17180, SL 17295

In the Previous Week: 

Nifty triggered our short trade on closing below 17850 and completed all our weekly short targets till 17650 - 17560 and exceeded it with a low of 17421.80 

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17535 - 17580 to move towards its initial long targets of 17700 - 17730. 

Closing above 17730 Nifty may move towards next long targets of 17830 - 17950

On the downside:

Nifty has to sustain and close below its immediate support at 17395 - 17350 to move towards initial short targets of 17230 - 17200. 

Closing below 17200 Nifty may move towards next targets of 17100 - 16980.

So far this week Nifty made a low of 17255.20 breaking below our weekly support zone at 17395 - 17350 and today closed at 17303.95.

Now in the coming session Nifty sustaining below 17350 can move towards its initial weekly short targets of 17230 - 17200. On the upside Nifty has immediate resistance at 17450 which it needs to break and sustain above to move towards our weekly resistance zone of 17535 - 17580.

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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.