Nifty Outlook for 12th Jan

 In the previous session :

Nifty went down by 39 points then went up by 78 points before closing higher by 52 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 11th Jan :-

Nifty triggered our long trade and barely completed one target doing just 25 points.

For 12th Jan :-

Sustaining above 18105 enter for 18135 - 18170 - 18260 , SL 18070

Sustaining below 18000 enter for 17975 - 17940 - 17850 , SL 18040

Now for this week :

Nifty has to break and sustain above 17895 - 17945 where it has its initial resistance for a further move towards 18075 - 18115 where it has its next resistance for the week

Nifty has to break and sustain below 17735 - 17685 where it has its initial support for a further move towards 17545 - 17510 where it has its next support for the week

So far this week Nifty made a high of 18081.25 testing its next weekly resistance zone and closed just below it . Now in the coming session Nifty has immediate resistance at 18075 - 18115 which it needs to break and sustain above for further upside towards 18170 - 18250 . On the downside Nifty has support at 17970 - 17940 zone and it needs to break and sustain below it for a further dip towards 17850 - 17750 . 

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 almost completed the move towards 18050 - 18150 with a high of 18017.45 . Can see Nifty take some resistance in the zone of 18050 - 18150 .

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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.