Nifty Outlook for 23rd Sep

  In the previous session:

Nifty went up by 4 points then went down by 186 points before closing lower by 88 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 22nd Sep:

Nifty triggered our short trade and completed 2 targets and more doing 120 points. 

For 23rd Sep:

Sustaining above 17690 enter for 17730 - 17770 - 17880, SL 17650

Sustaining below 17570 enter for 17530 - 17490 - 17380, SL 17610

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 17680 and has to sustain above it to move again towards its initial weekly long targets of 17840 - 17880. On the downside Nifty on breaking and sustaining below 17530 has immediate weekly support now at 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.