In the previous session :
Nifty went up by 97 points then went up by 149 points before closing lower by 88 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 24th Nov :-
Nifty initially triggered our long trade and completed just 1 target and took our TSL. Post that Nifty reversed to trigger our short trade and completed 2 targets doing 75 points .
For 25th Nov :-
Sustaining above 17490 enter for 17520 - 17550 - 17650 , SL 17435
Now for this week :
Nifty has to break and sustain above 17840 - 17890 where it has its initial resistance for a further move towards 18010 - 18050 where it has its next resistance for the week
Nifty has to break and sustain below 17690 - 17640 where it has its initial support for a further move towards 17510 - 17480 where it has its next support for the week
So far this week Nifty made a low of 17216.10 breaking below our next weekly short targets zone and today bounced back till 17600.60 from where it got sold off again to close marginally above 17400. Now in the coming session Nifty has immediate resistance near 17550 - 17600 on upmoves where we saw selling pressure today . On the downside Nifty on breaking and sustaining below todays low of 17340 can correct again towards 17280 - 17220 where it has a immediate support.
Nifty has to reclaim 17720 on closing basis for some signs of strength .
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment