In the previous session :
Nifty went down by 575 points before closing lower by 371 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 20th Dec :-
Nifty triggered our short trade by opening near our 2nd target and fell further by 400 points.
For 21st Dec :-
Sustaining above 16680 enter for 16725 - 16770 - 16900 , SL 16635
Now for this week :
Nifty has to break and sustain above 17090 - 17160 where it has its initial resistance for a further move towards 17335 - 17380 where it has its next resistance for the week
Nifty has to break and sustain below 16880 - 16810 where it has its initial support for a further move towards 16640 - 16590 where it has its next support for the week
So far this week Nifty made a low of 16410.20 breaking below of next weekly support zone and closed within it. Now in the coming sessions Nifty breaking and sustaining below 16590 can move towards 16430 - 16270 . On the upside Nifty on sustaining above 16640 has immediate resistance near 16810 - 16880.
Nifty has to reclaim 17460 on closing basis now to indicate strength .
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment