In the previous session :
Nifty went up by 66 points then went down by 190 points before closing lower by 169 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 Mar :-
Nifty triggered our short trade and nearly reached the 2nd target doing 90+ points.
For 22nd Mar :-
Sustaining above 17195 enter for 17240 - 17295 - 17440 , SL 17140
Now for this week :
On the upside :
Nifty has to sustain and close above 17445 - 17545 where it has its initial resistance to move towards next targets of 17810 - 17880 .
Closing above 17880 Nifty may move towards further targets of 18110 - 18360.
On the downside :
Nifty has to sustain and close below 17130 - 17030 where it has its initial support to move towards next targets of 16760 - 16690 .
Closing below 16690 Nifty may move towards further targets of 16460 - 16200 .
So far this week Nifty made a low of 17096 testing our initial weekly support zone and closed within the same. Now in the coming session Nifty has to hold 17130 - 17030 zone for a bounce back . On the upside Nifty has immediate resistance ay 17445 - 17545 where it may face selling pressure till it manages to give a close above it .
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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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