Monday 20 September 2021

Nifty Outlook for 21st Sep

  In the previous session :

Nifty went up by 37 points then went down by 223 points before closing lower by 188 points on Monday.



Nifty made a new life time high of 17792.95 in this upmove from the lows of 7511.10 made on 24th March 2020


On 20th Sep :-

Nifty initially triggered our short trade with a big gap down below our last target and did not give a chance to trade. Post that Nifty triggered our long trade and completed just target and took our stoploss. Then Nifty again triggered our short trade and completed all targets doing 200 points . 

For 21st Sep :-

Sustaining above 17430 enter for 17450 - 17475 - 17540 , SL 17405

Sustaining below 17360 enter for 17340 - 17315 - 17255 , SL 17385

Now for this week :

Nifty has to break and sustain above 17620 - 17645 where it has its initial resistance for a further move towards 17710 - 17725 where it has its next resistance for the week

Nifty has to break and sustain below 17550 - 17525 where it has its initial support for a further move towards 17465 - 17445 where it has its next support for the week

So far this week Nifty made a low of 17361.80 breaking below our next weekly short target zone and also closed below it . Now as long as Nifty is sustaining below 17475 in the coming session we can see a further move towards 17350 - 17270.


In the month of August Nifty made a high of 17129.25 and made a low of  15834.65 

As mentioned at the start of the month "For the month of August Nifty has to give a consecutive close above 15975 for a further move on the upside .  On the downside Nifty has to give a consecutive close below 15550 for a further correction." , and we saw Nifty make a high of 17129.25 giving a 1150 points move post a consecutive close above 15975 . 

As as mentioned at the start of the month "Now for the month of September Nifty has to give a consecutive close above 17355 for a further move on the upside . On the downside Nifty has to give a consecutive close below 16900 for a further correction. " , and after multiple borderline closes Nifty finally made a move to a new high of 17792.95  . 

As mentioned earlier "Now Nifty needs to give a close above 17655 for a further move towards 17850 - 18080 zone failing which we may see a dip towards 17350 - 17270. We are now above the caution zone advised for taking fresh long positions. ", and failing to close above 17655 we saw Nifty dip to make a low of 17361.80.


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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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