Nifty Outlook for 13th Mar

 In the previous session:

Nifty went up by 120 points then went down by 76 points before closing higher by 3 points on Tuesday 

Nifty made a new lifetime high of 22526.60 on 11th Mar 2024 from the lows of 7511.10 made on 24th March 2020

On 12th Mar:

Nifty initially triggered our long trade and missed our 2nd target and took our TSL giving 35 points. Post that Nifty traded sideways between our long and short trigger levels

For 13th Mar:

Sustaining above 22390 can move towards 22420 - 22455 - 22500, SL 22350

Sustaining below 22285 can move towards 22255 - 22215 - 22170, SL 22320

(One should ideally look to exit near the 2nd target once a trade is triggered)

In the Previous Week: 

Nifty traded sideways between our weekly long and short trigger levels 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 22585 - 22645 to move towards its initial weekly long targets of 22810 - 22850

Closing above 22850 Nifty may move towards its last weekly long targets of 22980 - 23130

On the downside:

Nifty has to sustain and close below its weekly support at 22400 - 22340 to move towards its initial weekly short targets of 22180 - 22140

Closing below 22140 Nifty may move towards its last weekly short targets of 22000 - 21850

So far this week Nifty has made a low of 22256 and closed today at 22335.70 after triggering our weekly short trade. The cbsl for the weekly short trade is 22445. Today inspite of the crazy swings our cbsl has held on closing 

Now in the coming session Nifty sustaining below 22285 can move towards 22215 - 22180. On the upside Nifty sustaining above 22390 can move towards 22455 - 22500. 

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

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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