Nifty Outlook for 04th Jan

 In the previous session:

Nifty went down by 47 points then went up by 54 points before closing higher by 35 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 03rd Jan:

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

For 04th Jan:

Sustaining above 18290 enter for 18325 - 18365 - 18470, SL 18250

Sustaining below 18175 enter for 18140 - 18100 - 18000, SL 18215

In the Previous Week: 

Nifty triggered our weekly long trade on closing above 17960 and fell short of completing all weekly long targets and made a high of 18265.25 

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18200 - 18260 to move towards initial long targets of 18420 - 18460. 

Closing above 18460 Nifty may move towards next long targets of 18600 - 18750

On the downside:

Nifty has to sustain and close below its immediate support at 18010 - 17950 to move towards initial short targets of 17790 - 17750. 

Closing below 17750 Nifty may move towards next targets of 17610 - 17460.

So far this week Nifty has made a high of 18251.95 testing our weekly resistance zone of 18200 - 18260 and closed at 18232.55

Now in the coming session Nifty has to break and sustain above 18260 to move towards its initial weekly long targets of 18420 - 18460. On the downside Nifty has immediate support at 18080 and breaking and sustaining below it can move towards its weekly support zone at 18010 - 17950. 

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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.