Nifty Outlook for 22nd Dec

 In the previous session:

Nifty went down by 173 points then went up by 138 points before closing higher by 105 points on Thursday 

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

On 21st Dec:

Nifty initially opened with a gap down below our 1st target and did not give a proper entry. Post that Nifty reversed to trigger our long trade and almost completed 2 targets doing 70 points

For 22nd Dec:

Sustaining above 21320 can move towards 21360 - 21405 - 21520, SL 21275

Sustaining below 21190 can move towards 21155 - 21105 - 20990, SL 21235

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 20976.80 almost completing our last weekly short targets till 21070 - 20950 on sustaining below 21330 and closed at 21255.05

Now in the coming session Nifty has immediate resistance at 21330 - 21380. On the downside Nifty sustaining below 21170 can move again towards 21070 - 20950.

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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