In the previous session:
Nifty went down by 250 points before closing lower by 73 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 10th Oct:
Nifty triggered our short trade with a big gap down below our 2nd target. Had shared revised levels on telegram and we got a long trade with 100 points.
For 11th Oct:
Sustaining above 17310 enter for 17355 - 17410 - 17540, SL 17260
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17450 - 17530 to move towards initial long targets of 17760 - 17820.
Closing above 17820 Nifty may move towards next long targets of 18010 - 18220
On the downside:
Nifty has to sustain and close below its immediate support at 17180 - 17100 to move towards initial short targets of 16870 - 16810.
Closing below 16810 Nifty may move towards next targets of 16620 - 16410.
So far this week Nifty made a low of 17064.70 breaking below our weekly support and bounced back till 17280.15 and closed at 17241.
Now in the coming session Nifty breaking and sustaining above 17350 has immediate resistance at 17450 - 17530. On the downside Nifty has immediate support at 17100 - 17040.
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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