In the previous session:
Nifty went up by 80 points then went down by 94 points before closing lower by 74 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 25th Oct:
Nifty triggered our long trade with a big gap up near our 2nd target and did not give a trade. Revised levels were posted on telegram channel and we got a short trade
For 27th Oct:
Sustaining above 17695 enter for 17720 - 17750 - 17820, SL 17665
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17660 - 17720 to move towards initial long targets of 17860 - 17910.
Closing above 17910 Nifty may move towards next long targets of 18030 - 18170
On the downside:
Nifty has to sustain and close below its immediate support at 17490 - 17430 to move towards initial short targets of 17290 - 17250.
Closing below 17250 Nifty may move towards next targets of 17130 - 16980.
So far this week Nifty made a high of 17811.50 breaking above its weekly resistance and closed at 17656.35
Now in the coming session Nifty has to sustain above 17660 to move towards its initial weekly targets of 17860 - 17910. On the downside sustaining below 17630 Nifty can move towards 17550 - 17490.
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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