In the previous session :
Nifty went up by 73 points then went down by 100 points before closing lower by 57 points on Wednesday.
Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 27th Oct :-
Nifty initially triggered our long trade and completed just 1 target and took our TSL. Post that Nifty triggered our short trade and nearly completed 2 targets doing 50 points .
For 28th Oct :-
Sustaining above 18255 enter for 18280 - 18310 - 18390 , SL 18225
Now for this week :
Nifty has to break and sustain above 18185 - 18230 where it has its initial resistance for a further move towards 18350 - 18380 where it has its next resistance for the week
Nifty has to break and sustain below 18045 - 18000 where it has its initial support for a further move towards 17880 - 17850 where it has its next support for the week
So far this week Nifty made a high of 18342.05 nearly testing our next weekly long targets and closed just above 18200 after breaking below our initial weekly shorts targets in the previous session . Now in the coming session Nifty has to hold above 18165 on dips and sustain above 18260 for a move back towards 18310 - 18380 , whereas breaking and sustaining below 18160 we may see a move towards 18120 - 18075 on the downside.
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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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