In the previous session :
Nifty went up by 127 points then went down by 99 points before closing lower by 58 points on Tuesday.
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 19th Oct :-
Nifty opened with a gap up above our 2nd target and did not give a chance to enter. Post that Nifty reversed to trigger our short trade and completed 2 targets doing 55 points.
For 20th Oct :-
Sustaining above 18520 enter for 18545 - 18575 - 18650 , SL 18490
Now for this week :
Nifty has to break and sustain above 18405 - 18450 where it has its initial resistance for a further move towards 18560 - 18590 where it has its next resistance for the week
Nifty has to break and sustain below 18270 - 18230 where it has its initial support for a further move towards 18115 - 18085 where it has its next support for the week
So far this week Nifty has made a high of 18604.45 completing our next weekly long targets and corrected by 230 points to close within our initial weekly long targets. Now Nifty needs to sustain above 18405 - 18380 for a bounce and breaking and sustaining below 18380 we may see a dip towards 18300 - 18270 where it has its next strong support.
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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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