In the previous session :
Nifty went up by 132 points before closing higher by 98 points on Friday.
Nifty made a new life time high of 15469.65 in this upmove from the lows of 7511.10 made on 24th March 2020
On 28th May :
Nifty triggered our long trade and completed 2 targets doing 70 points.
For 31st May :
Sustaining above 15480 enter for 15510 - 15540 - 15630 , SL 15450
Now for this week :
Nifty has immediate resistance at 15510 - 15560 zone and sustaining or closing above we may see a further move towards 15680 - 15720 zone
Nifty has immediate support at 15360 - 15315 and sustaining or closing below that we may see a move towards 15190 - 15155 zone
Now as long as Nifty is closing above 15150 on corrections we can see it bounce back . On the upside Nifty can see some selling pressure near 15650 - 15670 .
As mentioned for the month of ay "On the upside Nifty has strong resistance at 14850 - 14980 and it needs to give a consecutive close above it for further upmove.", we saw Nifty make a high of 15469.65 on giving a consecutive close above 14980 .
In the month of May Nifty made a high of 15469.65 and made a low of 14416.25 .
Overall Bank Nifty needs to give a strong or consecutive close above 35140 to regain strength .
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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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