Nifty Outlook for 17th Feb

 In the previous session:

Nifty went up by 118 points then went down by 15 points before closing higher by 20 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 16th Feb:

Nifty initially triggered our long trade with a gap up above our 1st target and completed our 2nd target but did not give a good entry point to trade.

For 17th Feb:

Sustaining above 18070 enter for 18090 - 18115 - 18180, SL 18045

Sustaining below 18000 enter for 17980 - 17955 - 17890, SL 18025

In the Previous Week: 

Nifty broke below our weekly support multiple but again failed to give a close below it and traded sideways the entire week.

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17920 - 17960 to move towards its initial long targets of 18070 - 18100. 

Closing above 18100 Nifty may move towards next long targets of 18180 - 18290

On the downside:

Nifty has to sustain and close below its immediate support at 17790 - 17750 to move towards initial short targets of 17650 - 17620. 

Closing below 17620 Nifty may move towards next targets of 17525 - 17425.

So far this week Nifty has made a low of 17719.75 breaking below our weekly support zone of 17790 - 17750 and today bounced back sharply to make a high of 18134.75 completing our initial weekly long targets of 18070 - 18100 and closed at 18035.85 

Now in the coming session Nifty has immediate support at 17950 - 17900 zone. On the upside Nifty has to break and sustain above 18100 for a further move towards 18180 - 18290. 

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

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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.