In the previous session:
Nifty went up by 334 points before closing higher by 171 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 14th Oct:
Nifty triggered our long trade with a big gap up near our last target and did not give a trade.
For 17th Oct:
Sustaining above 17260 enter for 17305 - 17360 - 17490, SL 17210
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17310 - 17380 to move towards initial long targets of 17580 - 17640.
Closing above 17640 Nifty may move towards next long targets of 17810 - 18000
On the downside:
Nifty has to sustain and close below its immediate support at 17060 - 16990 to move towards initial short targets of 16780 - 16730.
Closing below 16730 Nifty may move towards next targets of 16560 - 16370.
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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