In the previous session :
Nifty went up by 292 points before closing higher by 271 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 03rd Jan :-
Nifty traded triggered our long trade and completed 2 targets and more doing 200 points.
For 04th Jan :-
Sustaining above 17665 enter for 17690 - 17720 - 17790 , SL 17640
Now for this week :
Nifty has to break and sustain above 17470 - 17540 where it has its initial resistance for a further move towards 17735 - 17785 where it has its next resistance for the week
Nifty has to break and sustain below 17240 - 17170 where it has its initial support for a further move towards 16970 - 16920 where it has its next support for the week
So far this week Nifty made a high of 17646.65 breaking above our initial weekly resistance zone and also closed well above it . Now in the coming sessions sustaining above 17470 - 17540 zone Nifty can make a move towards 17735 - 17785 where it has its next weekly targets .
As mentioned previously "Nifty has to give a consecutive close above 17540 to expect a further bounce " , and today Nifty gave its first close well above 17540 . We need a consecutive close for a move towards 17730 - 17780
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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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