Nifty Outlook for 24th May

 In the previous session:

Nifty went up by 105 points before closing higher by 33 points on Tuesday 

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 23rd May:

Nifty triggered our long trade and almost completed all targets doing 75 points

 

For 24th May:

Sustaining above 18380 enter for 18395 - 18415 - 18470, SL 18355

Sustaining below 18315 enter for 18300 - 18280 - 18230, SL 18340

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 18419.75 almost reaching its last weekly long targets zone of 18425 - 18490 on closing above its weekly resistance zone of 18245 - 18275 and closed today at 18348

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

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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.