Nifty Outlook for 23rd Dec

 In the previous session:

Nifty went up by 119 points then went down by 130 points before closing lower by 71 points on Thursday

Nifty made a new lifetime high of 18887.60 on 01st Dec 2022 from the lows of 7511.10 made on 24th March 2020

On 22nd Dec:

Nifty triggered our long trade with a gap up above our 2nd target and did not give a trade. Post that Nifty reversed to trigger our short trade and completed 2 targets doing 70 points.

For 23rd Dec:

Sustaining above 18175 enter for 18205 - 18240 - 18330, SL 18140

Sustaining below 18080 enter for 18050 - 18010 - 17930, SL 18115

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18335 - 18375 to move towards initial long targets of 18485 - 18515. 

Closing above 18515 Nifty may move towards next long targets of 18610 - 18715

On the downside:

Nifty has to sustain and close below its immediate support at 18205 - 18165 to move towards initial short targets of 18050 - 18020. 

Closing below 18020 Nifty may move towards next targets of 17930 - 17820.

So far this week Nifty made a high of 18473.35 breaking above its weekly resistance zone of 18335 - 18375 and almost reached its initial long target zone of 18485 - 18515 and saw selling pressure bringing it down to a low of 18068.60 almost reaching its initial weekly short target zone of 18050 - 18020 and closed at 18127.35. 

Now in the coming sessions Nifty sustaining below 18165 can move towards 18050 - 18020 and if breaks and sustains below 18020 can fall further towards 17930 - 17820. On the upside Nifty has to break and sustain above 18205 to move towards its immediate resistance at 18335 - 18375. 

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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.