Nifty Outlook for 21st Nov

 In the previous session:

Nifty went down by 61 points then went up by 25 points before closing lower by 37 points on Monday 

Nifty made a new lifetime high of 20222.45 on 15th Sep 2023 from the lows of 7511.10 made on 24th March 2020

On 20th Nov:

Nifty triggered our short trade and completed just 1 target doing 20 points and took our stoploss. Post that Nifty traded sideways the entire session

For 21st Nov:

Sustaining above 19730 can move towards 19750 - 19775 - 19840, SL 19705

Sustaining below 19660 can move towards 19635 - 19610 - 19550, SL 19685

In the Previous Week: 

Nifty triggered our weekly long trade above 19520 and completed all targets till 19720 - 19810 with a high of 19875.25 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19790 - 19825 to move towards its initial weekly long targets of 19920 - 19945

Closing above 19945 Nifty may move towards its last weekly long targets of 20030 - 20120

On the downside:

Nifty has to sustain and close below its weekly support at 19675 - 19640 to move towards its initial weekly short targets of 19545 - 19515

Closing below 19515 Nifty may move towards its last weekly short targets of 19440 - 19350

So far this week Nifty has made a low of 19670.50 testing our weekly support zone of 19675 - 19640 and bounced to close at 19694.

Now in the coming session Nifty has immediate support at 19675 - 19640 and holding the same we can see a bounce towards its weekly resistance zone of 19790 - 19825. On the upside Nifty has immediate resistance at 19790 - 19825 and needs to give a strong close above it for a further upmove

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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