In the previous session:
Nifty went down by 70 points then went up by 369 points before closing higher by 276 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 30th Sep:
Nifty initially triggered our short trade and took our stoploss. Post that Nifty reversed to trigger our long trade and completed all targets and more doing 300+ points.
For 03rd Oct:
Sustaining above 17165 enter for 17210 - 17260 - 17390, SL 17115
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17210 - 17280 to move towards initial long targets of 17480 - 17530.
Closing above 17530 Nifty may move towards next long targets of 17700 - 17880
On the downside:
Nifty has to sustain and close below its immediate support at 16980 - 16910 to move towards initial short targets of 16710 - 16660.
Closing below 16660 Nifty may move towards next targets of 16490 - 16310.
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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