Nifty Outlook for 12th Jan

 In the previous session:

Nifty went up by 107 points then went down by 25 points before closing higher by 28 points on Thursday 

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 11th Jan:

Nifty triggered our long trade with a gap up above our 1st target and completed 2 targets doing 25 points and took our TSL. 

For 12th Jan:

Sustaining above 21690 can move towards 21710 - 21740 - 21815, SL 21660

Sustaining below 21605 can move towards 21585 - 21555 - 21480, SL 21635

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 completed our initial weekly short targets of 21480 - 21450 with a low of 21448.65 and on Thursday bounced back till 21726.50 and closed at 21647.20. The cbsl for the weekly short trade is 21680

Now in the coming session Nifty has immediate resistance at 21720 - 21740. On the downside Nifty has immediate support at 21600 and sustaining below 21600 Nifty can move towards 21500 - 21480.

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

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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