In the previous session :
Nifty went down by 85 points then went up by 83 points before closing higher by 27 points on Monday as compared to the previous day's close.
Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now .
On 02nd Nov :
Nifty initially triggered our long trade and did 1 target and took our TSL. Post that it reversed to trigger our short trade and completed nearly all targets doing 90 points
For 03rd Nov :
Sustaining above 11705 enter for 11725 - 11750 - 11810 , SL 11680
Sustaining below 11635 enter for 11615 - 11590 - 11530 , SL 11660
Now for this week :
Nifty has immediate resistance at 11700 - 11730 zone and closing above it we may see a further move towards 11825 - 11850 zone
Nifty has immediate support at 11590 - 11550 zone and closing below it we may see a further move towards 11460 - 11435 zone .
Today we saw Nifty make a low of 11557.40 near the support zone and rebound to make a high of 11725.65 within the resistance zone . Nifty traded between the initial support and resistance zone the entire session. We should see it break the range in either direction in the coming sessions.
Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"
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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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