Nifty Outlook for 09th May

 In the previous session:

Nifty went up by 218 points before closing higher by 195 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 08th May:

Nifty triggered our long trade and completed all targets and more doing 170 points

For 09th May:

Sustaining above 18310 enter for 18335 - 18365 - 18450, SL 18280

Sustaining below 18220 enter for 18195 - 18160 - 18080, SL 18250

In the Previous Week: 

Nifty confirmed our long trade on closing above 18140 and almost touched our last target zone of 18285 - 18350 with a high of 18267.45 . Overall Nifty gave a 120 points move after confirming our weekly long 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18135 - 18175 to move towards its initial weekly long targets of 18290 - 18320. 

Closing above 18320 Nifty may move towards its last weekly long targets of 18410 - 18520

On the downside:

Nifty has to sustain and close below its weekly support at 18000 - 17960 to move towards initial weekly short targets of 17850 - 17820

Closing below 17820 Nifty may move towards next targets of 17730 - 17620.

So far this week Nifty has made a high of 18286.95 breaking above our weekly resistance zone and also reached our initial weekly long targets of 18290 - 18320 and closed at 18264.40.

Now in the coming session Nifty sustaining above 18220 can move towards 18290 - 18320 and sustaining above that can move towards 18410 - 18520. On the downside Nifty has immediate support at 18175 - 18135 on sustaining below 18220

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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.