Nifty Outlook for 22nd Oct

  In the previous session :

Nifty went up by 117 points then went down by 219 points before closing lower by 88 points on Thursday.

Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 21st Oct :-

Nifty opened above our 2nd long target and did not give a chance to enter. Post that Nifty triggered our short trade and completed all targets and more doing 170 points. 

For 22nd Oct :-

Sustaining above 18220 enter for 18250 - 18280 - 18360 , SL 18190

Sustaining below 18135 enter for 18110 - 18080 - 18000 , SL 18165

Now for this week :

Nifty has to break and sustain above 18405 - 18450 where it has its initial resistance for a further move towards 18560 - 18590 where it has its next resistance for the week

Nifty has to break and sustain below 18270 - 18230 where it has its initial support for a further move towards 18115 - 18085 where it has its next support for the week

So far this week Nifty has made a high of 18604.45 completing our next weekly long targets and corrected by 550 points to complete our weekly short targets with a low of 18048 and recovered to close above just above 18170 . Now Nifty needs to hold above 18080 on further dips and break and sustain above 18230 - 18270 for a bounce back towards 18405 - 18450. Breaking and sustaining below 18080 Nifty may towards 17990 - 17880 where it has next strong support.

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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.