Tuesday 12 January 2021

Nifty Outlook for 13th Jan

 In the previous session : 


Nifty went down by 52 points then went up by 106 points before closing higher by 79 points on Tuesday as compared to the previous day's close. 







Nifty  made a new life time high of 14590.65 in this upmove from the levels of  7511.10  . 


On 12th Jan :

Nifty initially triggered our short trade and did just 1 target and took our TSL. Post that it reversed to trigger our long trade and nearly completed all targets doing 75 points. 

For 13th Jan :
 
Sustaining above 14595 enter for 14615 - 14635 - 14690 , SL 14575

Sustaining below 14535 enter for 14515 - 14495 - 14435 , SL 14555


 

Now for this week :

Nifty has immediate resistance at 14395 - 14425 zone and closing above it we may see a further move towards 14500 - 14520 zone 

Nifty has immediate support at 14300 - 14270 zone and closing below it we may see a further move towards 14195 - 14175 zone . 

So far this week Nifty has made a high of 14590.65 moving towards our expected level of 14585 - 14660 on sustaining above 14520 . 

From the current levels 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.

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