Nifty Outlook for 06th Apr

  In the previous session:

Nifty went up by 172 points before closing higher by 159 points on Wednesday 

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 05th Apr:

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

For 06th Apr:

Sustaining above 17605 enter for 17630 - 17670 - 17750, SL 17570

Sustaining below 17510 enter for 17485 - 17450 - 17360, SL 17545

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 low of 17312.75 and a high of 17570.55 breaking above our weekly resistance zone and closed at 17557.05

Now in the coming session Nifty sustaining above 17490 can move towards 17630 - 17660 where it has its initial weekly long targets. On the downside Nifty has immediate support at 17440 on dips and has to break and sustain below it for a further dip towards 17400 - 17350

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.