Nifty Outlook for 23rd Mar

 In the previous session:

Nifty went up by 99 points before closing higher by 44 points

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 Mar:

Nifty triggered our long trade and almost completed 2 targets doing 50 points

For 23rd Mar:

Sustaining above 17215 enter for 17235 - 17260 - 17350, SL 17165

Sustaining below 17090 enter for 17065 - 17040 - 16960, SL 17135

In the Previous Week: 

Nifty confirmed our short trade and made a low of 16850.15 almost completing our last weekly short target of 16930 - 16780 on closing below 17260 doing 400 points.

Now for this week:

On the upside:

Nifty has to sustain and close above its immediate resistance at 17175 - 17225 to move towards its initial long targets of 17360 - 17400. 

Closing above 17400 Nifty may move towards next long targets of 17500 - 17620

On the downside:

Nifty has to sustain and close below its immediate support at 17025 - 16975 to move towards initial short targets of 16840 - 16800

Closing below 16800 Nifty may move towards next targets of 16700 - 16570.

So far this week Nifty made a low of 16828.35 almost completing our initial weekly short targets of 16840 - 16800 and bounced sharply to make a high of 17207.25 testing our weekly resistance zone and closed at 17151.90

Now in the coming session Nifty has immediate resistance at 17175 - 17225 and has to break and sustain above it for a further move towards 17300 - 17350. On the downside Nifty has immediate support now at 17050 - 17000 which it needs to hold on dips to bounce back.

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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.