In the previous session :
Nifty went down by 205 points then went up by 75 points before closing lower by 69 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 21st Feb :-
Nifty triggered our short trade and completed just 1 target .
For 22nd Feb :-
Sustaining above 17310 enter for 17375 - 17450 - 17650 , SL 17240
Now for this week :
Nifty has to break and sustain above 17450 - 17550 where it has its initial resistance to move towards next targets of 17850 - 17920 . Sustaining or closing above 17920 Nifty may move towards further targets of 18170 - 18440.
Nifty has to break and sustain below 17100 - 17000 where it has its initial support to move towards next targets of 16710 - 16630 . Sustaining or closing below 16630 Nifty may move towards further targets of 16385 - 16110 .
So far this week Nifty made a low of 17070.70 testing our initial weekly support zone and bounced back to close at 17206.65 . Now in the coming session Nifty immediate resistance at 17450 - 17550 on the upside whereas immediate support is at 17100 - 17000 zone . So Nifty may trade in the range of 17000 - 17550 till either side is broken decisively.
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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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