Nifty Outlook for 20th Jan

  In the previous session :

Nifty went up by 16 points then went down by 228 points before closing lower by 175 points on Wednesday.

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 19th Jan :-

Nifty triggered our short trade and completed all targets and more doing 180 points  . 

For 20th Jan :-

Sustaining above 17985 enter for 18015 - 18050 - 18135 , SL 17950

Sustaining below 17890 enter for 17860 - 17830 - 17740 , SL 17925

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 18350.95 taking resistance at 18325 - 18370 zone and reversed to make a low of 17884.90 breaking below our next support zone and also closed below it . Now in the coming session Nifty sustaining below 18025 can move further towards targets of 17895 - 17780 where we may see some buying whereas breaking and sustaining above 18050 Nifty can move again towards 18250 - 18300 levels .

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 18350.95 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.