Nifty Outlook for 18th Dec

In the previous session : 





 



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Nifty went down by 9 points then went up by 90 points before closing higher by 58 points on Thursday as compared to the previous day's close. 

Nifty  made a new life time high of 13773.25 in this upmove from the levels of  7511.10  . 

On 17th Dec :

Nifty triggered our long trade with a gap up and nearly completed all targets doing  65 points .

For 18th Dec :

Sustaining above 13760 enter for 13775 - 13790 - 13830 , SL 13745

Sustaining below 13720  enter for 13705 - 13690 - 13650 , SL 13735

 

Now for this week :

Nifty has immediate resistance at 13555 - 13580 zone and closing above it we may see a further move towards 13650 - 13665 zone 

Nifty has immediate support at 13475 - 13450 zone and closing below it we may see a further move towards 13380 - 13365 zone . 

Had mentioned in the previous post " Sustaining above 13665 we can see 13725 - 13790 getting tested. Caution advised on taking fresh longs incase of a further upmove towards 13725 - 13790 zone". , and we saw Nifty make a high of 13773.25. From here onwards as mentioned caution is advised against taking fresh longs.

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.