In the previous session :
Nifty went down by 133 points before closing lower by 109 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 11th Apr :-
Nifty triggered our short trade and completed just 1 target doing 65 points.
For 12th Apr :-
Sustaining above 17745 enter for 17790 - 17840 - 17970 , SL 17695
Now for this week :
On the upside :
Nifty has to sustain and close above 17890 - 17960 where it has its initial resistance to move towards next targets of 18150 - 18200 .
Closing above 18200 Nifty may move towards further targets of 18350 - 18450.
On the downside :
Nifty has to sustain and close below 17670 - 17600 where it has its initial support to move towards next targets of 17420 - 17370 .
Closing below 17370 Nifty may move towards further targets of 17210 - 17120 .
So far this week Nifty made a low of 17650.95 testing our initial weekly support zone and closed at 17674.95 . Now in the coming session Nifty has to hold above 17600 for a bounce back towards 17800 else breaking and sustaining below 17600 we can see it move towards 17500 - 17400 zone.
Overall Nifty has immediate good resistance at 17800 - 17900 zone which it needs to close above for the next move towards 18150 - 18250 zone
Overall Nifty has strong support at 17300 - 17200 zone which it needs to hold on corrections to continue moving up. Immediate support for Nifty is at 17400.
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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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