In the previous session:
Nifty went up by 236 points before closing higher by 225 points on Monday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 31st Oct:
Nifty triggered our long trade with a big gap up above our last target and did not give a trade.
For 01st Nov:
Sustaining above 18050 enter for 18070 - 18090 - 18150, SL 18020
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17840 - 17870 to move towards initial long targets of 17940 - 17970.
Closing above 17970 Nifty may move towards next long targets of 18030 - 18100
On the downside:
Nifty has to sustain and close below its immediate support at 17740 - 17710 to move towards initial short targets of 17630 - 17610.
Closing below 17610 Nifty may move towards next targets of 17550 - 17470.
So far this week Nifty has made a high of 18022.80 almost completing all our long targets till 18030 - 18100 and closed at 18012.20.
Now in the coming sessions Nifty sustaining above 17970 can move towards 18030 - 18100. On the downside Nifty has immediate support at 17870 - 17840 which it needs to hold incase of a correction to resume the upmove
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment