Nifty Outlook for 18th Jan

 In the previous session :

Nifty went down by 27 points then went up by 66 points before closing higher by 52 points on Monday.

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 17th Jan :-

Nifty triggered our long trade but did not complete any targets . 

For 18th Jan :-

Sustaining above 18350 enter for 18370 - 18400 - 18475 , SL 18320

Sustaining below 18265 enter for 18245 - 18215 - 18140 , SL 18295

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

So far this week Nifty made a high of 18321.55 and in the coming sessions it needs to break and sustain above 17325 - 18370 for a further move towards 18485 - 18515 . Taking resistance at 18325 - 18370 zone can see Nifty move towards its support at 18185 - 18145 .

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 18321.55 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.