Nifty Outlook for 09th Jan

 In the previous session:

Nifty went up by 53 points then went down by 218 points before closing lower by 198 points on Monday 

Nifty made a new lifetime high of 21834.35 on 01st Jan 2024 from the lows of 7511.10 made on 24th March 2020

On 08th Jan:

Nifty triggered our short trade and completed all targets doing 135 points and exceeded it by further 40 points 

For 09th Jan:

Sustaining above 21565 can move towards 21595 - 21630 - 21720, SL 21530

Sustaining below 21465 can move towards 21435 - 21395 - 21310, SL 21500

In the Previous Week: 

Nifty triggered our weekly short trade but missed completing our initial weekly short targets and took our stoploss.

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 21780 - 21825 to move towards its initial weekly long targets of 21940 - 21970

Closing above 21970 Nifty may move towards its last weekly long targets of 22070 - 22180

On the downside:

Nifty has to sustain and close below its weekly support at 21640 - 21600 to move towards its initial weekly short targets of 21480 - 21450

Closing below 21450 Nifty may move towards its last weekly short targets of 21350 - 21240

So far this week Nifty triggered our short trade on sustaining below 21600 and almost reached our initial weekly short targets of 21480 - 21450 with a low of 21492.90 and closed at 21513. The cbsl for the short trade is 21680

Now in the coming session Nifty has immediate resistance at 21600 - 21640. On the downside Nifty has immediate support at 21480 - 21450 and sustaining / closing below 21450 Nifty can move towards 21350 - 21240.

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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