Nifty Outlook for 06th Jan

  In the previous session:

Nifty went up by 77 points then went down by 150 points before closing lower by 50 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 05th Jan:

Nifty triggered our short trade and completed 2 targets doing 80 points

For 06th Jan:

Sustaining above 18035 enter for 18060 - 18090 - 18170, SL 18005

Sustaining below 17950 enter for 17925 - 17890 - 17810, SL 17980

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 17892.60 breaking below our weekly support zone of 18010 - 17950 and closed at 17992.15

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 18060 and has to break and sustain above it to move towards 18100 - 18150. 

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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.