In the previous session :
Nifty went down by 80 points then went up by 171 points before closing higher by 151 points on Monday.
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 08th Nov :-
Nifty initially triggered our short trade and took our stoploss. Post that Nifty triggered our long trade and completed 2 targets doing 100 points.
For 09th Nov :-
Sustaining above 18140 enter for 18180 - 18230 - 18360 , SL 18090
Now for this week :
Nifty has to break and sustain above 18025 - 18090 where it has its initial resistance for a further move towards 18270 - 18315 where it has its next resistance for the week
Nifty has to break and sustain below 17815 - 17745 where it has its initial support for a further move towards 17565 - 17515 where it has its next support for the week
So far this week Nifty made a low of 17836.10 just above our initial support zone and bounced to make a high of 18087.80 testing our initial resistance zone and closed within it . Now in the coming session Nifty has to sustain above 18090 for a further move towards 18270 - 18315 . On the downside Nifty has immediate support at 17900 which it needs to hold on dips for a bounce else breaking below it we may see it fall further towards 17845 - 17775 .
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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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