Nifty Outlook for 05th Jan

 In the previous session:

Nifty went up by 10 points then went down by 211 points before closing lower by 189 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 04th Jan:

Nifty triggered our short trade and completed almost all targets doing 150 points

For 05th Jan:

Sustaining above 18105 enter for 18140 - 18185 - 18290, SL 18060

Sustaining below 17980 enter for 17945 - 17900 - 17800, SL 18025

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 today made a low of 18020.60 almost testing our weekly support zone of 18010 - 17950 and closed at 18042.95

Now in the coming session Nifty has to break and sustain below 17950 to move towards its initial weekly short targets of 17790 - 17750. On the upside Nifty now has immediate resistance at 18140 and has to break and sustain above it to move towards 18200 - 18260. 

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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.