Nifty Outlook for 17th Dec

 In the previous session :

Nifty went up by 158 points then went down by 36 points before closing higher by 27 points on Thursday.

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 16th Dec :-

Nifty triggered our long trade with a gap up near our 2nd target and did not give a entry . Post that Nifty reversed and traded sideways between our long and short trigger levels . 

For 17th Dec :-

Sustaining above 17315 enter for 17355 - 17405 - 17530 , SL 17270

Sustaining below 17180 enter for 17140 - 17090 - 16970 , SL 17230

Now for this week :

Nifty has to break and sustain above 17635 - 17715 where it has its initial resistance for a further move towards 17930 - 17985 where it has its next resistance for the week

Nifty has to break and sustain below 17385 - 17305 where it has its initial support for a further move towards 17090 - 17030 where it has its next support for the week

So far this week Nifty has made a high of 17639.50 touching our initial weekly resistance zone and reversed to make a low of 17184.95 breaking below our initial weekly support zone and also closed well below it.  Now in the coming session Nifty has immediate resistance at 17315 -17385 which it needs to break and sustain to move up further . On the downside Nifty has immediate support at 17180 -17140 which it needs to break and sustain to correct further. 

Nifty has to reclaim 17720 on closing basis for indicate strength for a move towards 18000 again . 

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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.