Nifty Outlook for 06th Jan

 In the previous session : 

Nifty went down by 85 points then went up by 83 points before closing higher by 66 points on Tuesday as compared to the previous day's close. 

Nifty  made a new life time high of 14215.60 in this upmove from the levels of  7511.10  . 

On 05th Jan :

Nifty initially triggered our short trade with a gap down below our 2nd short target and did not give a chance to trade. Post that Nifty reversed to trigger our long trade and  completed all targets doing 60 points.

For 06th Jan :

 

Sustaining above 14220 enter for 14230 - 14245 - 14280 , SL 14205

Sustaining below 14180 enter for 14170 - 14155 - 14120 , SL 14195

 

Now for this week :

Nifty has immediate resistance at 14130 - 14200 zone and closing above it we may see a further move towards 14385 - 14435 zone 

Nifty has immediate support at 13910 - 13840 zone and closing below it we may see a further move towards 13650 - 13600 zone . 

So far this week Nifty has made a high of 14215.60 above our initial resistance zone and closed borderline at its outer range  . Now sustaining above 14200 is required for a further move towards 14385 - 14435 .

From the current levels and on further move towards 14385 - 14435 caution is advised on entering fresh long positions.

 

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.