Nifty Outlook for 20th Apr

 In the previous session:

Nifty went up by 6 points then went down by 80 points before closing lower by 41 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 19th Apr:

Nifty triggered our short trade and completed 2 targets doing 40 points

For 20th Apr:

Sustaining above 17650 enter for 17670 - 17690 - 17750, SL 17630

Sustaining below 17585 enter for 17570 - 17545 - 17490, SL 17610

In the Previous Week: 

Nifty confirmed our long trade on closing above 17725 and nearly reached our weekly initial long targets till 17850 - 17890 with a high of 17842.15 doing 120 points.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 17880 - 17910 to move towards its initial weekly long targets of 17990 - 18020. 

Closing above 18020 Nifty may move towards its last weekly long targets of 18090 - 18170

On the downside:

Nifty has to sustain and close below its weekly support at 17770 - 17740 to move towards initial weekly short targets of 17660 - 17630

Closing below 17630 Nifty may move towards next targets of 17560 - 17480.

So far this week Nifty made a low of 17574.05 triggering our weekly short trade and almost reaching our last weekly short target zone of 17560 - 17480 and closed at 17618.75

Now in the coming session Nifty has to sustain below 17630 to move towards our weekly last short targets of 17560 - 17480 zone. On the upside Nifty has immediate resistance at 17670 - 17720 zone and has to break and sustain above it to move towards 17770 - 17840.

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.