In the previous session:
Nifty went up by 163 points before closing higher by 133 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 01st Nov:
Nifty triggered our long trade with a big gap up near our last target and did not give a trade. We had posted revised levels on telegram and we saw a sideways session post opening.
For 02nd Nov:
Sustaining above 18180 enter for 18195 - 18220 - 18280, SL 18155
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17840 - 17870 to move towards initial long targets of 17940 - 17970.
Closing above 17970 Nifty may move towards next long targets of 18030 - 18100
On the downside:
Nifty has to sustain and close below its immediate support at 17740 - 17710 to move towards initial short targets of 17630 - 17610.
Closing below 17610 Nifty may move towards next targets of 17550 - 17470.
So far this week Nifty has made a high of 18175.80 completing all our weekly long targets till 18100 and closed at 18145.40.
Now in the coming sessions Nifty has immediate resistance at 18200 - 18250 zone on further upmove. On the downside Nifty has immediate support at 18100 - 18000 which it needs to hold in a correction for a bounce again
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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