Nifty Outlook for 05th Apr

 In the previous session:

Nifty went down by 47 points then went up by 68 points before closing higher by 30 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 03rd Apr:

Nifty traded between our long and short trigger levels without confirming a trade in either direction with a minimum close on 10 mins time frame.

For 05th Apr:

Sustaining above 17445 enter for 17470 - 17500 - 17580, SL 17410

Sustaining below 17350 enter for 17325 - 17290 - 17210, SL 17385

In the Previous Week: 

Nifty confirmed our long trade on closing above 17040 and completed all our weekly long targets till 17240 - 17340 with a high of 17381.60 doing 300+ points.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 17440 - 17490 to move towards its initial weekly long targets of 17630 - 17660. 

Closing above 17660 Nifty may move towards next long targets of 17775 - 17900

On the downside:

Nifty has to sustain and close below its weekly support at 17280 - 17230 to move towards initial weekly short targets of 17100 - 17060

Closing below 17060 Nifty may move towards next targets of 16950 - 16820.

So far this week Nifty has made a 17312.75 and a high of 17428.05 and is trading sideways.

Now in the coming session Nifty has immediate resistance at 17440 - 17490 and has to break and sustain above it for a further move towards 17630 - 17660. On the downside Nifty has immediate support at 17280 - 17230 which it needs to break and sustain below for a further move towards 17100 - 17060

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: 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.