Nifty Outlook for 13th Jan

  In the previous session:

Nifty went up by 50 points then went down by 134 points before closing lower by 37 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 12th Jan:

Nifty triggered our short trade and completed 2 targets doing 50 points

For 13th Jan:

Sustaining above 17910 enter for 17935 - 17975 - 18070, SL 17875

Sustaining below 17805 enter for 17780 - 17740 - 17650, SL 17845

In the Previous Week: 

Nifty triggered our weekly short trade on closing below 17950 and almost completed our initial targets till 17790 - 17750 with a low of 17795.55

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17920 - 17960 to move towards initial long targets of 18060 - 18090. 

Closing above 18090 Nifty may move towards next long targets of 18180 - 18280

On the downside:

Nifty has to sustain and close below its immediate support at 17800 - 17760 to move towards initial short targets of 17660 - 17630. 

Closing below 17630 Nifty may move towards next targets of 17540 - 17440.

So far this week Nifty broke and sustained above our weekly resistance zone of 17920 - 17960 and almost reached our last weekly long targets of 18180 - 18280 with a high of 18141.40 and reversed fully to test our weekly support zone at 17800 - 17760 making a low of 17761.65 and closed at 17858.20

Now in the coming session Nifty has strong support at 17800 - 17760 and has to close below 17760 for a further correction else we can see it take support in this zone and attempt a bounce again. On the upside Nifty has immediate resistance at 17960 which it has to break and sustain above for a move back to 18060 - 18090 

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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.