Nifty Outlook for 23rd May

 In the previous session:

Nifty went down by 24 points then went up by 131 points before closing higher by 111 points on Monday 

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 May:

Nifty triggered our long trade and completed all targets doing 80 points

 

For 23rd May:

Sustaining above 18345 enter for 18360 - 18385 - 18440, SL 18325

Sustaining below 18285 enter for 18265 - 18245 - 18190, SL 18305

In the Previous Week: 

Nifty confirmed our short trade on closing below 18200 and completed our initial weekly short targets of 18090 - 18050 with a low of 18060.40

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18245 - 18275 to move towards its initial weekly long targets of 18345 - 18365. 

Closing above 18365 Nifty may move towards its last weekly long targets of 18425 - 18490

On the downside:

Nifty has to sustain and close below its weekly support at 18160 - 18135 to move towards initial weekly short targets of 18065 - 18045

Closing below 18045 Nifty may move towards next targets of 17985 - 17915

So far this week Nifty has made a high of 18335.25 almost reaching its initial weekly long targets zone of 18345 - 18365 on breaking above its weekly resistance zone of 18245 - 18275 and closed at 18314.40

Now in the coming session Nifty sustaining above 18275 has immediate target of 18345 - 18365 and sustaining above 18365 can move further towards 18425 - 18490. On the downside Nifty has immediate support at 18245 and breaking and sustaining below it can move towards 18160 - 18135 where it has immediate support.

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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.