In the previous session:
Nifty went down by 173 points before closing lower by 116 points on Friday
Nifty made a new lifetime high of 18887.60 on 01st Dec 2022 from the lows of 7511.10 made on 24th March 2020
On 02nd Dec:
Nifty triggered our short trade and completed all targets and more doing 125+ points.
For 05th Dec:
Sustaining above 18730 enter for 18750 - 18775 - 18835, SL 18705
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18750 - 18785 to move towards initial long targets of 18875 - 18900.
Closing above 18900 Nifty may move towards next long targets of 18975 - 19060
On the downside:
Nifty has to sustain and close below its immediate support at 18640 - 18610 to move towards initial short targets of 18520 - 18490.
Closing below 18490 Nifty may move towards next targets of 18415 - 18330.
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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