Nifty Outlook for 15th Feb

 In the previous session:

Nifty went up by 183 points before closing higher by 159 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 14th Feb:

Nifty triggered our long trade and completed all targets doing 125 points

For 15th Feb:

Sustaining above 17975 enter for 18000 - 18030 - 18115, SL 17945

Sustaining below 17885 enter for 17860 - 17830 - 17750, SL 17915

In the Previous Week: 

Nifty broke below our weekly support multiple but again failed to give a close below it and traded sideways the entire week.

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17920 - 17960 to move towards its initial long targets of 18070 - 18100. 

Closing above 18100 Nifty may move towards next long targets of 18180 - 18290

On the downside:

Nifty has to sustain and close below its immediate support at 17790 - 17750 to move towards initial short targets of 17650 - 17620. 

Closing below 17620 Nifty may move towards next targets of 17525 - 17425.

So far this week Nifty has made a low of 17719.75 breaking below our weekly support zone of 17790 - 17750 and today bounced back sharply to make a high of 17954.55 testing our initial resistance zone of 17920 - 17960 and closed at 17929.85 within the resistance zone. In the previous session Nifty had closed within the support zone.

Now in the coming session Nifty has to break and sustain/close above 17960 to move towards 18070 - 18100. On the downside Nifty has immediate support at 17860 -17800 zone and has to break and sustain/close below it for a further move.

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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.