In the previous session :
Nifty went up by 325 points before closing higher by 312 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 16th Mar :-
Nifty triggered our long trade with a gap up above our 1st target and went further and completed 2 targets and more doing 150 points.
For 17th Mar :-
Sustaining above 17075 enter for 17140 - 17210 - 17400 , SL 17005
Now for this week :
On the upside :
Nifty has to break and sustain above 16775 - 16865 where it has its initial resistance to move towards next targets of 17120 - 17180 .
Sustaining or closing above 17180 Nifty may move towards further targets of 17395 - 17630.
On the downside :
Nifty has to break and sustain below 16485 - 16395 where it has its initial support to move towards next targets of 16145 - 16080 .
Sustaining or closing below 16080 Nifty may move towards further targets of 15865 - 15630 .
So far this week Nifty has made a high of 16987.90 breaking above our initial weekly resistance before closing today at 16975 today. Now in the coming session Nifty sustaining above 16865 can move towards 17120 -17180 . On the downside Nifty has immediate support at 16775 on dips which it needs to hold to bounce back again else will correct towards 16600 - 16450 .
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