Nifty Outlook for 05th May

 In the previous session:

Nifty went down by 23 points then went up by 177 points before closing higher by 165 points on Thursday 

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 04th May:

Nifty triggered our long trade and completed all targets and more doing 150 points.

For 05th May:

Sustaining above 18285 enter for 18300 - 18320 - 18370, SL 18265

Sustaining below 18230 enter for 18215 - 18190 - 18150, SL 18250

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 18267.45 completing our initial weekly long targets of 18205 - 18225 and almost reaching our last weekly long target zone of 18285 - 18350 and closed at 18255.80 

Now in the coming session Nifty sustaining above 18225 can move towards 18285 - 18350. On the downside Nifty has immediate support at 18205 and has to break and sustain below it for a move towards 18140 - 18110 

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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.