Nifty Outlook for 23rd Dec

 In the previous session : 

Nifty went down by 135 points then went up by 164 points before closing higher by 138 points on Tuesday as compared to the previous day's close. 

Nifty  made a new life time high of 13777.50 in this upmove from the levels of  7511.10  . 

On 22nd Dec :

Nifty initially triggered our short trade and completed 2 targets doing 75 points and took our TSL . Post that Nifty reversed to trigger our long trade and again completed 2 targets doing 75 points again . 

For 23rd Dec :

 

Sustaining above 13530 enter for 13565 - 13610 - 13725 , SL 13485

Sustaining below 13405 enter for 13370 - 13325 - 13210 , SL 13450

 

Now for this week :

Nifty has immediate resistance at 13795 - 13815 zone and closing above it we may see a further move towards 13870 - 13885 zone 

Nifty has immediate support at 13725 - 13705 zone and closing below it we may see a further move towards 13650 - 13635 zone . 

Nifty made a high of 13777.50 near our resistance zone and corrected sharply by more than 600 points in a single day breaking below all supports for the week and also short term supports.

Now Nifty has immediate support at 13120 - 13040 on the downside and closing below it we can see a further correction till 12820 - 12720 zone.

On a bounce Nifty has resistance at 13550 - 13640 zone which it needs to get a close above again for a retest of the highs made.

 

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.