In the previous session :
Nifty went up by 177 points before closing higher by 159 points on Tuesday as compared to the previous day's close.
Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now .
On 06th Oct :
Nifty triggered our long trade and did 110 points
For 07th Oct :
Sustaining above 11730 enter for 11770 - 11815 - 11935 , SL 11680
Sustaining below 11595 enter for 11555 - 11510 - 11390 , SL 11645
As mentioned " Now for this week Nifty has immediate resistance at 11535 - 11610 zone and closing above it we may see a further move towards 11810 - 11860 zone " , today Nifty made a high of 11680.30 and closed at 11662.40 indicating a further upmove towards our next targets . Now initial supports on dips is near 11475 - 11525 levels.
On the downside Nifty has immediate support at 11300 - 11225 zone and below it we may see a further move towards 11025 - 10975 .
Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"
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Disclaimer : These are my personal views and one should do their own research 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.
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