In the previous session :
Nifty went up by 90 points then went down by 50 points before closing higher by 2 points on Friday.
Nifty made a new life time high of 17947.65 in this upmove from the lows of 7511.10 made on 24th March 2020
On 27th Sep :-
Nifty triggered our long trade with a gap up near our 1st target and took our stoploss.
For 28th Sep :-
Sustaining above 17905 enter for 17935 - 17970 - 18065 , SL 17870
Now for this week :
Nifty has to break and sustain above 17935 - 17985 where it has its initial resistance for a further move towards 18125 - 18160 where it has its next resistance for the week
Nifty has to break and sustain below 17770 - 17720 where it has its initial support for a further move towards 17585 - 17550 where it has its next support for the week
So far this week Nifty has made a high of 17943.50 testing our initial resistance . Now in the coming session Nifty has break and sustain above 17935 - 17985 to make a further move towards 18125 - 18160 . On the downside Nifty has support near 17770 - 17720 and holding the same we may it bounce back on dips.
In the month of August Nifty made a high of 17129.25 after confirming our monthly long trade with a consecutive close above 15975 and did nearly 1150 points.
As as mentioned at the start of the month "Now for the month of September Nifty has to give a consecutive close above 17355 for a further move on the upside . On the downside Nifty has to give a consecutive close below 16900 for a further correction. " , and now Nifty has made a new high of 17947.65 .
As mentioned earlier "Now Nifty needs to give a close above 17655 for a further move towards 17850 - 18080 zone failing which we may see a dip towards 17350 - 17270. We are now above the caution zone advised for taking fresh long positions. ", and Nifty sustaining above 17655 made a high so far of 17947.65 testing our target zone of 17850 - 18080 .
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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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