Nifty Outlook for 27th Jan

 In the previous session : 

Nifty went up by 119 points then went down by 153 points before closing lower by 133 points on Monday as compared to the previous day's close. 

Nifty  made a new life time high of 14753.55 in this upmove from the levels of  7511.10  . 

On 26th Jan :

Nifty initially triggered our short trade with a gap up near our 2nd target and did not give a chance to trade . Post that Nifty reversed to trigger our short trade and completed 2 targets doing 100 points .

For 27th Jan :

 

Sustaining above 14295 enter for 14325 - 14365 - 14465 , SL 14255

Sustaining below 14185 enter for 14155 - 14115 - 14015 , SL 14225

 

Now for this week :

Nifty has immediate resistance at 14460 - 14515 zone and sustaining or closing above it we may see a further move towards 14665 - 14700 zone 

Nifty has immediate support at 14285 - 14230 zone and sustaining or closing below it we may see a further move towards 14080 - 14040 zone . 

So far this week Nifty made a high of 14491.10 within our immediate resistance zone and reversed sharply to make a low of 14218.60 below our immediate support zone . Now in the coming session it needs to sustain below 14230 this week to correct further till 14080 - 14040 zone where we may see some support

Caution is advised on entering fresh long positions in the index on upmoves as we can expect a good amount of volatility and sudden dips too.

 

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.