Nifty Outlook for 23rd Feb

 In the previous session:

Nifty went down by 297 points before closing lower by 272 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 22nd Feb:

Nifty triggered our short trade with a gap down near our 1st target and fell sharply completing all daily and weekly targets doing 250 points.

For 23rd Feb:

Sustaining above 17600 enter for 17625 - 17660 - 17740, SL 17565

Sustaining below 17510 enter for 17485 - 17450 - 17370, SL 17540

In the Previous Week: 

Nifty triggered our long trade on closing above 17960 and completed our initial weekly long targets of 18070 -18100 with a high of 18134.75

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 18000 - 18035 to move towards its initial long targets of 18130 - 18155. 

Closing above 18155 Nifty may move towards next long targets of 18230 - 18320

On the downside:

Nifty has to sustain and close below its immediate support at 17890 - 17850 to move towards initial short targets of 17760 - 17730. 

Closing below 17730 Nifty may move towards next targets of 17650 - 17560.

So far this week Nifty made a high of 18004.35 testing our weekly resistance zone of 18000 - 18035 and reversed sharply to make a low of 17529.45 today and completed all our weekly short targets till 17650 - 17560 on sustaining/closing below 17850 and closed at 17554.30

Now in the coming session Nifty has immediate support at 17500 - 17400 from where we can see a bounce. On the upside Nifty has 17650 - 17730 zone and has to break and sustain above it for a further move.

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.