In the previous session :
Nifty went up by 57 points then went down by 97 points before closing lower by 44 points on Friday.
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 04th Feb :-
Nifty triggered our short trade and took our stoploss. Nifty traded the entire session between our long and short trigger levels indicating some indecisiveness.
For 07th Feb :-
Sustaining above 17605 enter for 17660 - 17720 - 17890 , SL 17545
Now for this week :
Nifty has to break and sustain above 17660 - 17750 where it has its initial resistance to move towards next targets of 17990 - 18060 . Sustaining or closing above 18060 Nifty may move towards further targets of 18265 - 18500.
Nifty has to break and sustain below 17375 - 17285 where it has its initial support to move towards next targets of 17040 - 16970 . Sustaining or closing below 16970 Nifty may move towards further targets of 16770 - 16540 .
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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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