Nifty Outlook for 18th Nov

 In the previous session:

Nifty went up by 8 points then went down by 96 points before closing lower by 65 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 17th Nov:

Nifty triggered our short trade and almost completed 2 targets doing 47 points. 

For 18th Nov:

Sustaining above 18390 enter for 18420 - 18460 - 18540, SL 18360

Sustaining below 18295 enter for 18265 - 18230 - 18150, SL 18330

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 today at 18343.90

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 sustaining below 18340 has immediate support at 18260 - 18210 and closing below 18210 is needed for a further correction towards 18060 - 18020.

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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.