In the previous session :
Nifty went up by 222 points before closing higher by 212 points on Thursday 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 .
On 05th Nov :
Nifty triggered our long trade with a gap up above the 2nd targets and moved up further by another 100 points .
For 06th Nov :
Sustaining above 12170 enter for 12200 - 12235 - 12330 , SL 12135
Sustaining below 12070 enter for 12040 - 12005 - 11915 , SL 12105
Now for this week :
Nifty has immediate resistance at 11700 - 11730 zone and closing above it we may see a further move towards 11825 - 11850 zone
Nifty has immediate support at 11590 - 11550 zone and closing below it we may see a further move towards 11460 - 11435 zone .
Nifty made a low of 11557.40 near the support zone and rebounded to make a high of 12131.10 breaking above all resistances . Now sustaining above 12065 Nifty can move further towards 12230 - 12270 and above it towards 12410 . On the downside now 12015 - 11930 is the immediate support zone.
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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