Nifty Outlook for 28th Feb

 In the previous session:

Nifty went down by 166 points before closing lower by 73 points on Monday

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 27th Feb:

Nifty triggered our short trade and almost completed all targets doing 120 points.

For 28th Feb:

Sustaining above 17430 enter for 17450 - 17475 - 17540, SL 17400

Sustaining below 17355 enter for 17335 - 17310 - 17250, SL 17380

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 17299 breaking below our weekly support zone at 17395 - 17350 but managed to close at 17392.70 within the support zone. 

Now in the coming session Nifty has immediate support at 17350 - 17395 which it needs to hold for a bounce. On the upside Nifty has to break and sustain above 17475 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.