Nifty Outlook for 22nd Sep

  In the previous session:

Nifty went up by 22 points then went down by 152 points before closing lower by 98 points on Wednesday

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

On 21st Sep:

Nifty triggered our long trade and completed 2 targets doing 80 points. 

For 22nd Sep:

Sustaining above 17780 enter for 17815 - 17860 - 17970, SL 17735

Sustaining below 17660 enter for 17620 - 17580 - 17470, SL 17700

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 17919.30 completing our initial weekly targets of 17840 - 17880 above 17680.

Now in the coming session Nifty has immediate resistance at 17840 - 17880 and has to sustain and close above 17880 to move towards its next weekly long targets of 18010 - 18160. On the downside Nifty has immediate weekly support now at 17680 - 17630 and has to break and close below it for a move towards 17440 - 17380.

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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.