In the previous session :
Nifty went down by 37 points then went up by 106 points before closing higher by 84 points on Thursday
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 21st Jul :-
Nifty triggered our long trade and almost completed 2 targets doing 50+ points.
For 22nd Jul :-
Sustaining above 16650 enter for 16680 - 16715 - 16800 , SL 16620
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 16626.95 exceeding our last weekly long targets of 16400 - 16500 and closed at 16605.25 . Now in the coming session Nifty has immediate 16720 - 16800 . On the downside Nifty has strong support at 16500 which it needs to break and sustain for a further correction towards 16400 - 16350 .
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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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