In the previous session :
Nifty went up by 238 points before closing higher by 229 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 18th Jul :-
Nifty triggered our long trade with a big gap up above our 2nd target and did not give a chance to trade and completed all targets and more moving up further by 120+ points
For 19th Jul :-
Sustaining above 16325 enter for 16355 - 16390 - 16480 , SL 16290
Now for this week :
On the upside :
Nifty has to sustain and close above 16120 - 16160 where it has its initial resistance to move towards next targets of 16270 - 16300 .
Closing above 16300 Nifty may move towards further targets of 16400 - 16500 .
On the downside :
Nifty has to sustain and close below 15980 - 15940 where it has its initial support to move towards next targets of 15830 - 15800 .
Closing below 15800 Nifty may move towards further targets of 15700 - 15600 .
So far this week Nifty made a high of 16287.95 testing our next weekly resistance zone of 16270 - 16300. Now in the coming session Nifty has to break and sustain above 16300 to move towards our last weekly long target zone of 16400 - 16500. On the downside Nifty has immediate support now at 16160 - 16120 which it needs to hold on dips to bounce back again.
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
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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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