In the previous session:
Nifty went up by 33 points then went down by 97 points before closing lower by 62 points on Wednesday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 02nd Nov:
Nifty triggered our short trade and completed 2 targets doing 50+ points.
For 03rd Nov:
Sustaining above 18120 enter for 18140 - 18170 - 18230, SL 18090
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 18178.75 completing all our weekly long targets till 18100 and closed today at 18082.85
Now in the coming sessions Nifty has immediate resistance at 18200 - 18250 zone on further upmove. On the downside Nifty has immediate support at 18000 - 17950 which it needs to hold in a correction for a bounce again else breaking and sustaining below 17950 Nifty fall further towards 17850.
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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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