Thursday 17 September 2020

Nifty Spot Outlook for 18th Sep

 In the previous session : 


Nifty went down by 106 points before closing lower by 88 points on Thursday as compared to the previous day's close.








Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 


On 17th  Sep :

Nifty triggered our short trade and completed 2 targets giving 50+ points .

For 18th Sep :
 


Sustaining above 11545 enter for 11565 - 11585 - 11640 , SL 11525


Sustaining below 11485 enter for 11470 - 11445 - 11395 , SL 11510



For this week Nifty has immediate support at 11405 - 11370 zone and sustaining below it we can see a further correction towards its next support zone at 11265 - 11240 .

For this week Nifty has immediate resistance at 11525 - 11560 zone and sustaining above it we can see a further recovery towards the next resistance zone of 11655 - 11690 .

Today Nifty has again closed below its immediate resistance after being unable to sustain or close above 11610 post the good move in the previous session. Unless Nifty closes above 11610 we can see selling resume to take it towards its initial support zone .


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.

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