In the previous session :
Nifty went up by 53 points then went down by 105 points before closing lower by 19 points on Friday.
Nifty made a new life time high of 15431.75 in this upmove from the lows of 7511.10 made on 24th March
On 14th May :
Nifty triggered our short trade and almost completed 2 targets doing 55 points.
For 17th May :
Sustaining above 14720 enter for 14745 - 14775 - 14850 , SL 14690
Now for this week :
Nifty has immediate resistance at 14745 - 14785 zone and sustaining or closing above we may see a further move towards 14900 - 14930 zone
Nifty has immediate support at 14610 - 14570 and sustaining or closing below that we may see a move towards 14460 - 14430 zone
Nifty continues to trade in the broader range of 14200 - 15100
Overall Nifty has strong support at 14415 - 14280 on the downside and incase of a consecutive close below it we can expect further declines.
On the upside Nifty has strong resistance at 14850 - 14980 and it needs to give a consecutive close above it for further upmove.
In the month of April Nifty made a high of 15044.35 and made a low of 14151.40 .
Overall Bank Nifty needs to give a strong or consecutive close above 35140 to regain strength .
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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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