In the previous session:
Nifty went down by 174 points before closing lower by 148 points on Monday
Nifty made a new lifetime high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 21st Nov:
Nifty triggered our short trade and completed 2 targets and more doing 125 points.
For 22nd Nov:
Sustaining above 18210 enter for 18240 - 18280 - 18370, SL 18175
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18385 - 18435 to move towards initial long targets of 18565 - 18600.
Closing above 18600 Nifty may move towards next long targets of 18715 - 18840
On the downside:
Nifty has to sustain and close below its immediate support at 18230 - 18180 to move towards initial short targets of 18050 - 18015.
Closing below 18015 Nifty may move towards next targets of 17900 - 17780.
So far this week Nifty has made a low of 18133.35 breaking below our weekly support at 18230 - 18180 and closed at 18159.95.
Now in the coming session Nifty sustaining below 18180 can move towards 18050 - 18015 to complete its initial weekly short targets. On the upside Nifty has immediate resistance at 18280 - 18370 where it can face selling pressure.
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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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