Nifty Outlook for 31st Dec

  In the previous session :

Nifty went up by 50 points then went down by 67 points before closing lower by 9 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 30th Dec :-

Nifty traded between our long and short trigger zone once again for the entire session indicating indecisiveness. 

For 31st Dec :-

Sustaining above 17270 enter for 17305 - 17350 - 17475 , SL 17225

Sustaining below 17140 enter for 17100 - 17055 - 16935 , SL 17185

Now for this week :

Nifty has to break and sustain above 17115 - 17185 where it has its initial resistance for a further move towards 17375 - 17425 where it has its next resistance for the week

Nifty has to break and sustain below 16890 - 16820 where it has its initial support for a further move towards 16630 - 16590 where it has its next support for the week

So far this week Nifty made a low of 16833.20 testing our initial weekly support zone and bounced back to make a high of 17285.95 breaking above our initial weekly resistance zone and has been closing above it for the last 3 sessions . Now in the coming session Nifty has immediate resistance at 17290 on the upside and breaking above it is required for a move towards 17375 - 17425 zone. Nifty has immediate support at 17115 and only on breaking and sustaining below it we can see a dip towards 17000 - 16900 zone . 

Nifty has to reclaim 17460 on closing basis now to indicate strength .

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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.