In the previous session :
Nifty went up by 5 points then went down by 167 points before closing lower by 147 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 26th Jul :-
Nifty triggered our short trade and completed all targets doing 120 points.
For 27th Jul :-
Sustaining above 16530 enter for 16555 - 16590 - 16670 , SL 16495
Now for this week :
On the upside :
Nifty has to sustain and close above 16795 - 16845 where it has its initial resistance to move towards next targets of 16975 - 17010 .
Closing above 17010 Nifty may move towards further targets of 17120 - 17240 .
On the downside :
Nifty has to sustain and close below 16640 - 16590 where it has its initial support to move towards next targets of 16465 - 16430 .
Closing below 16430 Nifty may move towards further targets of 16320 - 16200 .
So far this week Nifty has made a low of 16463.30 testing our weekly short targets zone of 16465 - 16430 and closed today at 16483 . Now in the coming session Nifty sustaining below 16430 can move towards its last weekly short target zone of 16320 - 16200. On the upside Nifty has immediate resistance at at 16590 - 16640 .
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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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