Nifty Outlook for 21st Dec

 In the previous session:

Nifty went up by 139 points then went down by 365 points before closing lower by 302 points on Wednesday 

Nifty made a new lifetime high of 21593 on 20th Dec 2023 from the lows of 7511.10 made on 24th March 2020

On 20th Dec:

Nifty initially opened with a gap up near our 2nd target and did not give a proper entry, Post that Nifty reversed to trigger our short trade and completed all targets doing 145 points and exceeded it by another 170 points

For 21st Dec:

Sustaining above 21215 can move towards 21250 - 21295 - 21415, SL 21170

Sustaining below 21085 can move towards 21050 - 21000 - 20890, SL 21130

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 today made a high of 21593 breaking above our weekly resistance zone but could not sustain and corrected sharply to make a low of 21087.35 almost reaching our last weekly short target zone of 21070 - 20950 on sustaining below 21330 and closed at 21150.15

Now in the coming session Nifty sustaining above 21220 has immediate resistance at 21300 - 21380 zone. On the downside Nifty sustaining below 21170 can move towards 21070 - 20950.

In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.                              

To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.

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