In the previous session:
Nifty went up by 30 points then went down by 187 points before closing lower by 149 points on Wednesday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 28th Sep:
Nifty triggered our short trade and completed 2 targets and more doing 100+ points
For 29th Sep:
Sustaining above 16925 enter for 16965 - 17010 - 17130, SL 16880
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17430 - 17500 to move towards initial long targets of 17680 - 17730.
Closing above 17730 Nifty may move towards next long targets of 17880 - 18050
On the downside:
Nifty has to sustain and close below its immediate support at 17220 - 17150 to move towards initial short targets of 16970 - 16920.
Closing below 16920 Nifty may move towards next targets of 16770 - 16600.
So far this week Nifty made a low of 16820.40 completing our initial weekly short targets of 16970 - 16920 and closed at 16858.60.
Now in the coming session Nifty has immediate resistance at 16920 - 16970 which it needs to break and close above for a further bounce towards 17150 - 17220. On the downside Nifty sustaining below 16920 can move towards its last weekly short targets of 16770 - 16600.
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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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