Tuesday 22 February 2022

Nifty Outlook for 23rd Feb

 In the previous session :

Nifty went down by 362 points before closing lower by 114 points on Tuesday.

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 22nd Feb :-

Nifty triggered our short trade by opening between our 2nd and last target and did not give a entry to trade .


For 23rd Feb :-

Sustaining above 17195 enter for 17255 - 17325 - 17515 , SL 17125

Sustaining below 16990 enter for 16930 - 16860 - 16670 , SL 17060

Now for this week :

Nifty has to break and sustain above 17450 - 17550 where it has its initial resistance to move towards next targets of 17850 - 17920 . Sustaining or closing above 17920 Nifty may move towards further targets of 18170 - 18440.

Nifty has to break and sustain below 17100 - 17000 where it has its initial support to move towards next targets of 16710 - 16630 . Sustaining or closing below 16630 Nifty may move towards further targets of 16385 - 16110 .

So far this week Nifty made a low of 16843.80 coming closer to our next weekly support zone of 16710 - 16630 and bounced back to close at 17092.20 . Now in the coming session Nifty has to sustain above 17100 for a move towards 17250 - 17350 where it has immediate resistance . On the downside Nifty has its strongest support at 16800 which it needs to now hold on closing basis else we see a further correction . 



Incase of a gap up beyond the first target then for fresh updated levels intraday follow 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.


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