Nifty Outlook for 18th Jan

 In the previous session:

Nifty went down by 7 points then went up by 177 points before closing higher by 158 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 17th Jan:

Nifty triggered our long trade and almost completed all targets giving 125+ points

For 18th Jan:

Sustaining above 18105 enter for 18135 - 18170 - 18265, SL 18070

Sustaining below 18000 enter for 17975 - 17935 - 17840, SL 18040

In the Previous Week: 

Nifty traded between our weekly support and resistance for most part of the week

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18040 - 18090 to move towards its initial long targets of 18230 - 18265. 

Closing above 18265 Nifty may move towards next long targets of 18385 - 18520

On the downside:

Nifty has to sustain and close below its immediate support at 17875 - 17825 to move towards initial short targets of 17685 - 17650. 

Closing below 17650 Nifty may move towards next targets of 17530 - 17400.

So far this week Nifty made a low of 17853.65 testing our weekly support zone of 17875 - 17825 and reversed to make a high of 18072.05 testing our weekly resistance zone of 18040 - 18090 and closed at 18053.30

Now in the coming session Nifty has to break and sustain above 18090 to move towards 18230 - 18265. On the downside Nifty has immediate support at 17875 - 17825 which it needs to break and close below for a move towards 17685 - 17650.

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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.