Nifty Spot Outlook for 17th Sep

  In the previous session : 

Nifty went down by 5 points then went up by 96 points before closing higher by 82 points on Wednesday as compared to the previous day's close.

Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 

On 16th  Sep :

Nifty triggered our long trade and completed 2 targets giving 50+ points .

For 17th Sep :

 

Sustaining above 11645 enter for 11665 - 11695 - 11765 , SL 11615

Sustaining below 11565 enter for 11545 - 11515 - 11445 , SL 11595

For this week Nifty has immediate support at 11405 - 11370 zone and sustaining below it we can see a further correction towards its next support zone at 11265 - 11240 .

For this week Nifty has immediate resistance at 11525 - 11560 zone and sustaining above it we can see a further recovery towards the next resistance zone of 11655 - 11690 .

Today Nifty has closed comfortably above its immediate resistance zone and also closed at 11604.55 . Once Nifty sustains or closes comfortably above 11610 we can see a move towards the highs made earlier this month.

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

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Disclaimer : These are my personal views and one should do their own research 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.