Nifty Outlook for 21st Jan

In the previous session :

Nifty went up by 5 points then went down by 290 points before closing lower by 181 points on Thursday.

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 20th Jan :-

Nifty triggered our short trade and completed all targets and more doing 240 points  . 

For 21st Jan :-

Sustaining above 17825 enter for 17850 - 17880 - 17975 , SL 17770

Sustaining below 17690 enter for 17660 - 17635 - 17540 , SL 17740

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 17648.45 completing and exceeding our expected targets of 17895 - 17780 . Now in the coming session Nifty needs to sustain above 17825 to move back towards 17995 - 18025  whereas breaking and sustaining below 17650 it can correct further towards 17540 - 17470 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.