Tuesday 22 September 2020

Nifty Spot Outlook for 22nd Sep

 In the previous session : 


Nifty went up by 30 points then went down by 286 points before closing lower by 254 points on Monday 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 21st Sep :

Nifty triggered our short trade and completed all targets and also broke the weekly supports mentioned below and did 256 points.

For22nd Sep :
 


Sustaining above 11295 enter for 11320 - 11350 - 11430 , SL 11265


Sustaining below 11205 enter for 11180 - 11150 - 11070 , SL 11235


As mentioned previously " For this week Nifty has immediate support at 11455 - 11425 zone and sustaining below it we can see a further correction towards its next support zone at 11345 - 11325 ." , today Nifty broke its initial support and also close below its next support zone . Now the next support is at 11165 - 11150 and sustaining / closing below it we can see a further fall towards 11075 - 11000 levels .

For this week Nifty has immediate resistance at 11555 - 11585 zone and sustaining above it we can see a further recovery towards the next resistance zone of 11665 - 11685 .


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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