Nifty Outlook for 16th Sep

 In the previous session:

Nifty went up by 92 points then went down by 142 points before closing lower by 126 points on Thursday

Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 15th Sep:

Nifty triggered our long trade and completed 2 targets doing 50 points. Post that Nifty reversed to trigger our short trade and completed all targets doing 100+ points.

For 16th Sep:

Sustaining above 17915 enter for 17935 - 17965 - 18035, SL 17890

Sustaining below 17840 enter for 17820 - 17790 - 17720, SL 17865

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17960 - 18040 to move towards initial long targets of 18250 - 18310. 

Closing above 18310 Nifty may move towards next long targets of 18480 - 18690

On the downside:

Nifty has to sustain and close below its immediate support at 17710 - 17630 to move towards initial short targets of 17420 - 17360. 

Closing below 17360 Nifty may move towards next targets of 17180 - 16980.

So far this week Nifty has made a low of 17771.15 and bounced back to make a high of 18096.15 and closed at 17877.40. Nifty has failed to give a close above 18040 to confirm further move. Now in the coming session Nifty has immediate resistance at 18040 - 18100 on the upside.On the downside Nifty sustaining below 17960 can move towards 17800 - 17700 zone.

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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.