Nifty Outlook for 04th May

 In the previous session:

Nifty went down by 105 points before closing lower by 58 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 03rd May:

Nifty triggered our short trade and completed all targets doing 65 points.

For 04th May:

Sustaining above 18115 enter for 18130 - 18145 - 18190, SL 18095

Sustaining below 18065 enter for 18050- 18030 - 17990, SL 18085

In the Previous Week: 

Nifty confirmed our long trade on closing above 17690 and completed all our weekly targets till 17830 - 17900 and more by making a high of 18089.15 doing 300+

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18110 - 18140 to move towards its initial weekly long targets of 18205 - 18225. 

Closing above 18225 Nifty may move towards its last weekly long targets of 18285 - 18350

On the downside:

Nifty has to sustain and close below its weekly support at 18020 - 17990 to move towards initial weekly short targets of 17925 - 17900

Closing below 17900 Nifty may move towards next targets of 17850 - 17780.

So far this week Nifty made a high of 18180.25 breaking above our weekly resistance zone of 18110 - 18140 and today closed at 18089.85 just above it.

Now in the coming session Nifty breaking and sustaining below 18110 has immediate support at 18020 - 17990 on the downside. On the upside Nifty sustaining above 18120 can move towards 18205 - 18225.

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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.