Nifty Outlook for 05th Jan

 In the previous session :

Nifty went down by 32 points then went up by 201 points before closing higher by 179 points on Tuesday.

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 04th Jan :-

Nifty traded triggered our long trade and completed all targets and more doing 160 points. 

For 05th Jan :-

Sustaining above 17845 enter for 17870 - 17900 - 17975 , SL 17815

Sustaining below 17765 enter for 17740 - 17710 - 17635 , SL 17795

Now for this week :

Nifty has to break and sustain above 17470 - 17540 where it has its initial resistance for a further move towards 17735 - 17785 where it has its next resistance for the week

Nifty has to break and sustain below 17240 - 17170 where it has its initial support for a further move towards 16970 - 16920 where it has its next support for the week

So far this week Nifty made a high of 17827.60 breaking above our next weekly resistance zone and also closed above it . Now in the coming sessions sustaining above 17735 - 17785 can move towards 17875 - 17955 . On the downside Nifty has immediate support at 17730 - 17660 on dips.

As mentioned previously "Nifty has to give a consecutive close above 17540 to expect a further bounce " , and Nifty has given a consecutive close above it and also completed the move towards the initial expected targets of 17730 - 17780 . Now Nifty has further targets at 17900 - 18000 . 

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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.