Nifty Outlook for 20th Sep

  In the previous session:

Nifty went down by 101 points then went up by 136 points before closing higher by 91 points on Monday

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

On 19th Sep:

Nifty initially triggered our short trade and completed just 1 target doing 40 points and took our TSL. Post that Nifty reversed to trigger our long trade and completed 2 targets doing 70 points. 

For 20th Sep:

Sustaining above 17680 enter for 17715 - 17760 - 17860, SL 17640

Sustaining below 17560 enter for 17530 - 17480 - 17380, SL 17600

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17630 - 17680 to move towards initial long targets of 17840 - 17880. 

Closing above 17880 Nifty may move towards next long targets of 18010 - 18160

On the downside:

Nifty has to sustain and close below its immediate support at 17440 - 17380 to move towards initial short targets of 17230 - 17180. 

Closing below 17180 Nifty may move towards next targets of 17050 - 16900.

So far this week Nifty made a low of 17429.70 testing our initial weekly support zone of 17440 - 17380 and bounced back to make a high of 17667.20 testing our initial weekly resistance zone

 of 17630 - 17680 and closed at 17622.25.

Now in the coming session Nifty has to break and sustain above 17680 to move towards 17840 - 17880. On the downside Nifty has immediate support at 17380 and has to break and sustain below it for a move towards 17230 - 17180.

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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.