In the previous session:
Nifty went down by 23 points then went up by 159 points before closing higher by 140 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 12th Oct:
Nifty triggered our long trade and did 80 points.
For 13th Oct:
Sustaining above 17200 enter for 17245 - 17300 - 17440, SL 17145
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 16950.30 breaking below our weekly support zone of 17180 - 17100 and bounced today to close at 17123.60
Now in the coming session Nifty breaking and sustaining above 17140 can move towards 17210 - 17290 initially. On the downside Nifty has immediate support at 17040 and sustaining below it can again revisit 16950 - 16850 zone.
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