Nifty Outlook for 14th Dec

 In the previous session:

Nifty went down by 137 points then went up by 43 points before closing higher by 20 points on Wednesday 

Nifty made a new lifetime high of 21037.90 on 12th Dec 2023 from the lows of 7511.10 made on 24th March 2020

On 13th Dec:

Nifty triggered our short trade and completed 2 targets doing 70 points

For 14th Dec:

Sustaining above 20980 can move towards 21015 - 21050 - 21155, SL 20945

Sustaining below 20870 can move towards 20840 - 20800 - 20700, SL 20910

In the Previous Week: 

Nifty opened above our last weekly long target and moved up further by almost 500 points on the back of short covering based on election results in several states.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 21050 - 21100 to move towards its initial weekly long targets of 21230 - 21265

Closing above 21265 Nifty may move towards its last weekly long targets of 21380 - 21500

On the downside:

Nifty has to sustain and close below its weekly support at 20890 - 20840 to move towards its initial weekly short targets of 20710 - 20675

Closing below 20675 Nifty may move towards its last weekly short targets of 20560 - 20440

So far this week Nifty has made a high of 21039.90 and made a low of 20769.50 breaking below our weekly support zone of 20890 - 20840 but recovered and closed at 20926.35

Now in the coming session Nifty has immediate resistance at 21050 - 21100 and has to break and close above it for a move towards 21230 - 21265. On the downside Nifty has immediate support at 20890 - 20840 and has to close below it can move towards 20710 - 20675

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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