In the previous session :
Nifty went up by 20 points then went down by 305 points before closing lower by 284 points on Monday.
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 06th Dec :-
Nifty triggered our short trade and nearly completed all targets doing 220 points.
For 07th Dec :-
Sustaining above 17000 enter for 17050 - 17110 - 17270 , SL 16940
Now for this week :
Nifty has to break and sustain above 17330 - 17420 where it has its initial resistance for a further move towards 17640 - 17710 where it has its next resistance for the week
Nifty has to break and sustain below 17060 - 16980 where it has its initial support for a further move towards 16750 - 16690 where it has its next support for the week
So far this week Nifty has made a low of 16891.70 breaking below our initial support and also closed well below it . Now in the coming session as long as Nifty is sustaining below 16980 we can see it make a move towards 16750 - 16690 where it has its next targets and supports on the downside . On the upside Nifty has immediate resistance now at 17050 - 17100 zone where it may face resistance.
Nifty has to reclaim 17720 on closing basis for some signs of 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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