Nifty Outlook for 19th Jan

 In the previous session : 

Nifty went up by 25 points then went down by 210 points before closing lower by 152 points on Monday 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 18th Jan :

Nifty triggered our short trade and completed all targets and more doing 150 points .

For 19th Jan :

 

Sustaining above 14325 enter for 14355 - 14385 - 14470 , SL 14295

Sustaining below 14235 enter for 14210 - 14175 - 14095 , SL 14270

 

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 . 

So far this week Nifty after breaking its initial support has made a low of 14222.80 near our immediate target zone of 14220 - 14190 . Now in the coming session Nifty has to break and sustain or close below 14190 for a further move towards 14100 - 14000. Failing to do so we may see a bounce back towards 14330 - 14370 from where fresh selling may resume again.

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.