Nifty Outlook for 08th Mar

  In the previous session:

Nifty went up by 420 points before closing higher by 99 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 06th Mar:

Nifty triggered our long trade with a gap up near our 1st target and moved up further by 100+ points almost completing all targets 

For 08th Mar:

Sustaining above 17770 enter for 17805 - 17850 - 17960, SL 17730

Sustaining below 17650 enter for 17615 - 17570 - 17460, SL 17690

In the Previous Week: 

Nifty initially confirmed our short trade and made a low of 17255.20 coming close to our initial weekly short target of 17230 - 17200 and bounced back sharply and took our stoploss and went on to make a high of 17644.75 

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17685 - 17745 to move towards its initial long targets of 17905 - 17945. 

Closing above 17945 Nifty may move towards next long targets of 18080 - 18230

On the downside:

Nifty has to sustain and close below its immediate support at 17500 - 17445 to move towards initial short targets of 17285 - 17245. 

Closing below 17245 Nifty may move towards next targets of 17110 - 16960.

So far this week Nifty made a high of 17799.95 breaking below our weekly resistance zone at 17685 - 17745 and closed at 17711.45. 

Now in the coming session Nifty has to sustain above 17790 to move towards 17900 - 17950. On the downside Nifty has immediate support at 17650 - 17600 zone 

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

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.