In the previous session:
Nifty went up by 101 points then went down by 66 points before closing lower by 3 points on Friday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 02nd Sep:
Nifty triggered our long trade and took our stoploss. Post that Nifty traded sideways for the entire session between our long and short trigger point.
For 05th Sep:
Sustaining above 17620 enter for 17665 - 17725 - 17875, SL 17565
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17670 - 17750 to move towards initial long targets of 17970 - 18030.
Closing above 18030 Nifty may move towards next long targets of 18220 - 18430
On the downside:
Nifty has to sustain and close below its immediate support at 17410 - 17330 to move towards initial short targets of 17100 - 17050.
Closing below 17050 Nifty may move towards next targets of 16860 - 16650.
In case 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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