In the previous session :
Nifty went up by 108 points then went up by 47 points before closing higher by 17 points on Monday 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 12th Oct :
Nifty initially triggered our long trade and completed all targets doing 75 points. Nifty then reversed to trigger our short trade and did just 1 target and took our TSL. Nifty indicated a bit of indecisiveness today on further move .
For 13th Oct :
Sustaining above 11955 enter for 11965 - 11985 - 12025 , SL 11935
Sustaining below 11905 enter for 11895 - 11875 - 11835 , SL 11925
Now for this week :
Nifty has immediate resistance at 11955 - 11980 zone and closing above it we may see a further move towards 12045 - 12065 zone" ,
Nifty has immediate support at 11875 - 11850 zone and closing below it we may see a further move towards 11785 - 11765 zone .
As mentioned above we saw Nifty make a high of 12022.05 near our next resistance and correct till 11867.20 which is our initial support zone before closing mildly positive. We can expect Nifty to face some resistance near the levels mentioned .
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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