In the previous session :
Nifty went up by 102 points then went down by 349 points before closing lower by 215 points on Tuesday.
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 19th Apr :-
Nifty triggered our long trade and took our stoploss . Post that Nifty reversed to trigger our short trade in the last hour and completed all targets and more doing 175 points.
For 20th Apr :-
Sustaining above 17000 enter for 17030 - 17060 - 17140 , SL 16970
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 .
So far this week Nifty made a low of 16824.70 breaking below our next weekly support zone and almost completing our last short targets for the week at 16890 - 16700 and closed at 16958.65 . Now in the coming session Nifty has immediate support at 16890 - 16700 zone which it needs to hold to bounce back towards its immediate resistance zone at 17050 - 17100 . A close above 17100 will open doors for a move till 17290 - 17360.
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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