Wednesday 17 November 2021

Nifty Outlook for 18th Nov

 In the previous session :

Nifty went down by 120 points then went down by 23 points before closing lower by 100 points on Wednesday.



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 17th Nov :-

Nifty triggered our short trade and nearly completed 2 targets doing 70 points. 


For 18th Nov :-

Sustaining above 17945 enter for 17970 - 18005 - 18090 , SL 17910

Sustaining below 17850 enter for 17825 - 17790 - 17710 , SL 17885

Now for this week :

Nifty has to break and sustain above 18185 - 18240 where it has its initial resistance for a further move towards 18380 - 18420 where it has its next resistance for the week

Nifty has to break and sustain below 18020 - 17965 where it has its initial support for a further move towards 17825 - 17785 where it has its next support for the week


So far this week we saw Nifty make a high of 18210.15 testing our initial weekly resistance zone  and reverse to make a low of 17879.25 today testing our initial weekly support zone.  Now in the coming session Nifty has to hold above 17825 - 17785 on further dips for a bounce else breaking and sustaining below 17785 can dip towards 17675 - 17550 next. On the upside Nifty has to break and sustain above 18065 for a higher bounce towards 18125 - 18185 .

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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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