Nifty Outlook for 28th Jan

 In the previous session :

Nifty went down by 411 points before closing lower by 168 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 27th Jan :-

Nifty triggered our short trade with a big gap down and completed all targets and more still doing doing 190 points .

For 28th Jan :-

Sustaining above 17175 enter for 17210 - 17260 - 17370 , SL 17130

Sustaining below 17050 enter for 17010 - 16960 - 16850 , SL 17090

Now for this week :

Nifty has to break and sustain above 17695 - 17740 where it has its initial resistance to move towards next targets of 17870 - 17900 where it has next resistance for the week

Nifty has to break and sustain below 17545 - 17495 where it has its initial support to move towards next targets of 17365 - 17335 where it has its next support for the week

So far this week Nifty made a low of 16836.80 testing the support at 16930 - 16830 mentioned in the previous post and bounced back sharply to close at 17277.95 recovering 450+ points. Now Nifty has immediate resistance at 17335 - 17365 that it needs to break and sustain above for the next move towards 17495 - 17545 . On the downside Nifty has support at 16930 - 16830 which it needs to hold else breaking and sustaining below it we can see a more corrections .

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 giving a move of around 800 points . Post that now Nifty has reversed to make a low of 16836.80 correcting around 1500+ points . 

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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.