Nifty Outlook for 17th Nov

 In the previous session:

Nifty went up by 38 points then went down by 59 points before closing higher by 6 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 16th Nov:

Nifty triggered our short trade but did not complete any target and traded sideways for the entire session. 

For 17th Nov:

Sustaining above 18455 enter for 18485 - 18520 - 18605, SL 18425

Sustaining below 18360 enter for 18335 - 18300 - 18215, SL 18395

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18440 - 18490 to move towards initial long targets of 18640 - 18680. 

Closing above 18680 Nifty may move towards next long targets of 18810 - 18950

On the downside:

Nifty has to sustain and close below its immediate support at 18260 - 18210 to move towards initial short targets of 18060 - 18020. 

Closing below 18020 Nifty may move towards next targets of 17890 - 17750.

So far this week Nifty has made a low of 18282 today and bounced back to make a high of 18442.15 and closed at 18409.65

Now in the coming session Nifty has immediate resistance at 18440 - 18490 and has to break and sustain above it for a further move towards its initial weekly long target of 18640 - 18680. On the downside Nifty has immediate support at 18260 - 18210 which it needs to break and sustain below for a correction towards 18060 - 18020.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

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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.