Sunday 17 January 2021

Nifty Outlook for 18th Jan

In the previous session : 


Nifty went up by 21 points then went down by 238 points before closing lower by 162 points on Friday as compared to the previous day's close. 







Nifty  made a new life time high of 14653.35 in this upmove from the levels of  7511.10  . 


On 15th Jan :

Nifty triggered our short trade and completed all targets and more doing 200 points .


For 18th Jan :
 
Sustaining above 14475 enter for 14495 - 14525 - 14600 , SL 14445

Sustaining below 14395 enter for 14370 - 14340 - 14270 , SL 14425


 

Now for this week :

Nifty has immediate resistance at 14500 - 14540 zone and sustaining or closing above it we may see a further move towards 14645 - 14675 zone 

Nifty has immediate support at 14370 - 14330 zone and sustaining or closing below it we may see a further move towards 14220 - 14190 zone . 

Last week caution was advised on entering fresh long positions near 14600+ levels and saw a quick correction from 14653 till 14357 of nearly 300 points. Those who are buying on dips should keep a cbsl of 14320 this week for their 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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