In the previous session :
Nifty went up by 132 points then went down by 191 points before closing lower by 142 points on Friday
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 29th Apr :-
Nifty initially triggered our long trade and took our stoploss . Post that Nifty reversed to trigger our short trade and almost completed 2 targets doing 100 points
For 02nd May :-
Sustaining above 17180 enter for 17230 - 17290 - 17440 , SL 17125
Now for this week :
On the upside :
Nifty has to sustain and close above 17230 - 17320 where it has its initial resistance to move towards next targets of 17530 - 17590 .
Closing above 17590 Nifty may move towards further targets of 17780 - 17970.
On the downside :
Nifty has to sustain and close below 16970 - 16890 where it has its initial support to move towards next targets of 16670 - 16610 .
Closing below 16610 Nifty may move towards further targets of 16425 - 16215.
Overall Nifty has immediate good resistance at 17370 - 17540 zone which it needs to close above for the next move towards 17900 - 18100 zone
Overall Nifty has immediate good support at 16830 - 16660 zone which it needs to hold on corrections else closing below we may see a further move towards 16200 - 16100 .
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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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