Nifty Outlook for 31st May

  In the previous session:

Nifty went down by 23 points then went up by 64 points before closing higher by 35 points on Tuesday 

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 30th May:

Nifty triggered our long trade but completed only 1 target doing 25 points

For 31st May:

Sustaining above 18660 enter for 18680 - 18700 - 18750, SL 18640

Sustaining below 18605 enter for 18590 - 18565 - 18515, SL 18625

In the Previous Week: 

Nifty confirmed our long trade on closing above 18275 and completed all weekly long targets till 18425 - 18490 with a high of 18508.55

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18560 - 18600 to move towards its initial weekly long targets of 18700 - 18725. 

Closing above 18725 Nifty may move towards its last weekly long targets of 18810 - 18910

On the downside:

Nifty has to sustain and close below its weekly support at 18440 - 18400 to move towards initial weekly short targets of 18300 - 18275

Closing below 18275 Nifty may move towards next targets of 18190 - 18090

So far this week Nifty has made a high of 18662.45 breaking above our weekly resistance zone of 18560 - 18600 and closed at 18633.85 above it.

Now in the coming session Nifty sustaining above 18600 can move towards 18700 - 18725 and complete its initial weekly long targets. On the downside Nifty has immediate support at 18560 and has to break and sustain below it to move towards 18500 - 18450

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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.