Nifty made a new life time high of 17947.65 in this upmove from the lows of 7511.10 made on 24th March 2020
On 29th Sep :-
Nifty triggered our short trade with a gap down below our 1st target and completed 2 targets doing 50 points .
Sustaining above 17765 enter for 17795 - 17830 - 17925 , SL 17725
Sustaining below 17660 enter for 17630 - 17595 - 17500 , SL 17695
Nifty has to break and sustain above 17935 - 17985 where it has its initial resistance for a further move towards 18125 - 18160 where it has its next resistance for the week
Nifty has to break and sustain below 17770 - 17720 where it has its initial support for a further move towards 17585 - 17550 where it has its next support for the week
So far this week Nifty has made a high of 17943.50 testing our initial resistance . Post that Nifty corrected till 17576.10 testing our next support zone and bounced back to close at 17748.60. Now in the coming session Nifty has to sustain above 17720 - 17770 to move back towards 17935 - 17985 . On the downside Nifty has immediate support near 17585 - 17550 and breaking below it we may see a move towards 17430 - 17300 .
In the month of August Nifty made a high of 17129.25 after confirming our monthly long trade with a consecutive close above 15975 and did nearly 1150 points.
As as mentioned at the start of the month "Now for the month of September Nifty has to give a consecutive close above 17355 for a further move on the upside . On the downside Nifty has to give a consecutive close below 16900 for a further correction. " , and now Nifty has made a new high of 17947.65 .
As mentioned earlier "Now Nifty needs to give a close above 17655 for a further move towards 17850 - 18080 zone failing which we may see a dip towards 17350 - 17270. We are now above the caution zone advised for taking fresh long positions. ", and Nifty sustaining above 17655 made a high so far of 17947.65 testing our target zone of 17850 - 18080 .
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
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