In the previous session :
Nifty went down by 309 points before closing lower by 271 points on Wednesday as compared to the previous day's close.
Nifty made a new life time high of 14753.55 in this upmove from the levels of 7511.10 .
On 27th Jan :
Nifty triggered our short trade and completed all targets and more doing 255 points .
For 28th Jan :
Sustaining above 14030 enter for 14065 - 14105 - 14215 , SL 13985
Sustaining below 13905 enter for 13875 - 13830 - 13720 , SL 13950
Now for this week :
Nifty has immediate resistance at 14460 - 14515 zone and sustaining or closing above it we may see a further move towards 14665 - 14700 zone
Nifty has immediate support at 14285 - 14230 zone and sustaining or closing below it we may see a further move towards 14080 - 14040 zone .
So far this week Nifty made a high of 14491.10 within our immediate resistance zone and reversed sharply to make a low of 13929.30 breaking below the support at 14080 - 14040 and also closed well below it. Now in the coming sessions we can see a further correction towards 13915 - 13780 as long as Nifty is sustaining below 14040.
Caution is advised on entering fresh long positions in the index on upmoves as we can expect a good amount of volatility and sudden dips too.
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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