In the previous session:
Nifty went down by 1.5 points then went up by 198 points before closing higher by 140 points on Wedneday
Nifty made a new lifetime high of 18816.05 on 30th Nov 2022 from the lows of 7511.10 made on 24th March 2020
On 30th Nov:
Nifty triggered our long trade and completed all targets and more doing 125+ points
For 01st Dec:
Sustaining above 18800 enter for 18820 - 18845 - 18920, SL 18770
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18575 - 18615 to move towards initial long targets of 18715 - 18750.
Closing above 18750 Nifty may move towards next long targets of 18830 - 18930
On the downside:
Nifty has to sustain and close below its immediate support at 18450 - 18410 to move towards initial short targets of 18310 - 18280.
Closing below 18280 Nifty may move towards next targets of 18190 - 18090.
So far this week Nifty made a low of 18365.60 breaking below our weekly support zone and bounced back sharply till 18816.05 almost reaching our last weekly long targets of 18830 - 18930 and closed at 18758.35
Now in the coming session Nifty has to sustain above 18750 for a move towards 18830 - 18930. On the downside Nifty has immediate support at 18700 and breaking and sustaining below it can move towards 18650 - 18600.
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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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