Nifty Outlook for 20th Sep

  In the previous session:

Nifty went up by 119 points before closing higher by 89 points on Friday 

Nifty made a new lifetime high of 20110.35 on 12th Sep 2023 from the lows of 7511.10 made on 24th March 2020

On 18th Sep:

Nifty triggered our short trade and almost completed all targets doing 55 points

For 20th Sep:

Sustaining above 20160 can move towards 20175 - 20195 - 20240, SL 20140

Sustaining below 20110 can move towards 20090 - 20075 - 20030, SL 20125

In the Previous Week: 

Nifty triggered our weekly long trade above 19895 and completed all our weekly long targets till 20065 - 20140 doing 245 points and exceeded it by 80 points with a high of 20222.45 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 20225 - 20245 to move towards its initial weekly long targets of 20300 - 20315. 

Closing above 20315 Nifty may move towards its last weekly long targets of 20360 - 20410

On the downside:

Nifty has to sustain and close below its weekly support at 20160 - 20140 to move towards its initial weekly short targets of 20085 - 20070

Closing below 20070 Nifty may move towards its last weekly short targets of 20025 - 19975

So far this week Nifty has made a low of 20115.70 breaking below our weekly support zone of 20160 - 20140 and closed at 20133.30 just below it triggering our weekly short. Now cbsl for the weekly short trade is 20180.

Now in the coming session Nifty sustaining above 20160 has immediate resistance at 20225 - 20245. On the downside Nifty sustaining below 20140 can move towards its initial weeky short targets of 20085 - 20070 and sustaining/closing below 20070 can take it towards 20025 - 19975 where it has strong 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