In the previous session :
Nifty went up by 133 points then went down by 73 points before closing lower by 55 points on Wednesday.
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 13th Apr :-
Nifty triggered our long trade and completed just 1 target and took our trailing stoploss. Post that Nifty reversed to trigger our short trade but did not complete any targets.
For 18th Apr :-
Sustaining above 17545 enter for 17585 - 17640 - 17770 , SL 17495
Now for this week :
On the upside :
Nifty has to sustain and close above 17590 - 17660 where it has its initial resistance to move towards next targets of 17850 - 17900 .
Closing above 17900 Nifty may move towards further targets of 18050 - 18250.
On the downside :
Nifty has to sustain and close below 17360 - 17290 where it has its initial support to move towards next targets of 17100 - 17050 .
Closing below 17050 Nifty may move towards further targets of 16890 - 16700 .
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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