Nifty Outlook for 28th Dec

 

 In the previous session:

Nifty went down by 47 points then went up by 134 points before closing higher by 117 points on Tuesday

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 27th Dec:

Nifty triggered our long trade and came close to our 2nd target doing 60 points.

For 28th Dec:

Sustaining above 18200 enter for 18240 - 18290 - 18410, SL 18155

Sustaining below 18065 enter for 18025 - 17975 - 17850, SL 18110

In the Previous Week: 

Nifty triggered our weekly short trade on closing below 18165 and completed all weekly short targets till 17820 and exceeded it with a low of 17779.50

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17900 - 17960 to move towards initial long targets of 18115 - 18160. 

Closing above 18160 Nifty may move towards next long targets of 18290 - 18440

On the downside:

Nifty has to sustain and close below its immediate support at 17715 - 17650 to move towards initial short targets of 17500 - 17450. 

Closing below 17450 Nifty may move towards next targets of 17320 - 17170.

So far this week Nifty made a high of 18149.25 almost completing our initial weekly long targets of 18115 - 18160 and closed at 18132.30. 

Now in the coming session Nifty has to break and sustain above 18200 to move towards its last weekly long targets of 18290 - 18440 else we can see this bounce come to an end. On the downside Nifty has immediate support at 17960 - 17900 and breaking and sustaining below it can move towards its weekly support zone at 17715 - 17650.

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

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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.