Nifty Outlook for 29th Dec

 In the previous session:

Nifty went down by 63 points then went up by 40 points before closing lower by 10 points on Wednesday

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 28th Dec:

Nifty traded sideways between our long and short trigger zone today indicating indecisiveness.

For 29th Dec:

Sustaining above 18185 enter for 18220 - 18270 - 18385, SL 18140

Sustaining below 18060 enter for 18025 - 17975 - 17860, SL 18105

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 18173.10 completing our initial weekly long targets of 18115 - 18160 and closed at 18122.50. 

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 as mentioned yesterday too. On the downside Nifty has immediate support 18050 and breaking and sustaining below it we can see a move towards 17960 - 17900. 

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: 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.