Nifty Outlook for 05th Jul

 In the previous session:

Nifty went down by 22 points then went up by 111 points before closing higher by 66 points on Tuesday 

Nifty made a new lifetime high of 19345.10 on 03rd Jul 2023 from the lows of 7511.10 made on 24th March 2020

On 04th Jul:

Nifty triggered our long trade and completed 2 targets and more doing 80 points 

For 05th Jul:

Sustaining above 19430 enter for 19455 - 19480 - 19550, SL 19400

Sustaining below 19350 enter for 19325 - 19295 - 19230, SL 19380

In the Previous Week: 

Nifty triggered our long trade on closing above 18755 and completed all targets till 19030 and more making a high of 19201.70 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19255 - 19300 to move towards its initial weekly long targets of 19415 - 19445. 

Closing above 19445 Nifty may move towards its last weekly long targets of 19540 - 19650

On the downside:

Nifty has to sustain and close below its weekly support at 19120 - 19080 to move towards initial weekly short targets of 18965 - 18935

Closing below 18935 Nifty may move towards its last weekly short targets of 18840 - 18730

So far this week Nifty has made a high of 19434.15 almost completing its initial weekly longs targets of 19415 -19445 and closed at 19389

Now in the coming session Nifty has to break and sustain above 19445 for a further move towards its last weekly long targets of 19540 - 19650. On the downside Nifty has immediate support now at 19300 - 19250 from where it can bounce back

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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.