In the previous session:
Nifty went down by 166 points before closing lower by 109 points on Thursday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 13th Oct:
Nifty triggered our short trade and almost completed 2 targets doing 80 points.
For 14th Oct:
Sustaining above 17090 enter for 17140 - 17200 - 17340, SL 17040
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 today closed at 17014.35
Now in the coming session Nifty sustaining below 17100 can move towards 16870 - 16810. On the upside Nifty has immediate resistance at 17070 and sustaining above it next resistance at 17140- 17180 zone.
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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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