Nifty Outlook for 20th Dec

 In the previous session:

Nifty went down by 81 points then went up by 86 points before closing higher by 34 points on Tuesday 

Nifty made a new lifetime high of 21505.05 on 19th Dec 2023 from the lows of 7511.10 made on 24th March 2020

On 19th Dec:

Nifty initially triggered our short trade and completed just 1 target doing 25 points and took our stoploss. Post that Nifty reversed to trigger our long trade and again completed just 1 target doing 30 points. 

For 20th Dec:

Sustaining above 21500 can move towards 21530 - 21560 - 21650, SL 21465

Sustaining below 21405 can move towards 21380 - 21345 - 21260, SL 21440

In the Previous Week: 

Nifty completed all weekly long targets till 21380 - 21500 making a high of 21492.30 on closing above 21100.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 21530 - 21580 to move towards its initial weekly long targets of 21710 - 21740

Closing above 21740 Nifty may move towards its last weekly long targets of 21850 - 21970

On the downside:

Nifty has to sustain and close below its weekly support at 21380 - 21330 to move towards its initial weekly short targets of 21210 - 21170

Closing below 21170 Nifty may move towards its last weekly short targets of 21070 - 20950

So far this week Nifty has made a low of 21365.35 testing our weekly support zone and bounced back to 21500 and closed at 21453.10

Now in the coming session Nifty sustaining above 21500 has resistance at 21530 - 21580 on the upside. On the downside Nifty has immediate support at 21380 - 21330 and has to break and sustain below 21330 for a move towards 21260 - 21210.

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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