In the previous session:
Nifty went up by 216 points before closing higher by 175 points on Tuesday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 18th Oct:
Nifty triggered our long trade with a gap up above our 1st target and went up further by 100 points.
For 19th Oct:
Sustaining above 17540 enter for 17575 - 17615 - 17720, SL 17505
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.
So far this week Nifty made a low of 17098.55 and bounced back to make a high of 17527.80 breaking above our weekly resistance zone and closed at 17486.95.
Now in the coming session Nifty sustaining above 17380 can move towards its initial weekly targets of 17580 - 17640. On the downside Nifty has to break and sustain below 17310 to move towards its support zone of 17220 - 17150.
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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