In the previous session :
Nifty went down by 138 points then went up by 29 points before closing lower by 2 points on Friday.
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 14th Jan :-
Nifty triggered our short trade and completed 2 targets and more doing 90 points .
For 17th Jan :-
Sustaining above 18300 enter for 18325 - 18355 - 18435 , SL 18270
Now for this week :
Nifty has to break and sustain above 18325 - 18370 where it has its initial resistance to move towards next targets of 18485 - 18515 where it has next resistance for the week
Nifty has to break and sustain below 18185 - 18145 where it has its initial support to move towards next targets of 18025 - 17995 where it has its next support for the week
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 made a high of 18286.95 for the month . Now it has immediate support at 18100 - 18000 and immediate resistance at 18300 - 18400 .
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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.
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