In the previous session:
Nifty went up by 25 points then went down by 114 points before closing lower by 82 points on Wednesday
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 07th Dec:
Nifty triggered our short trade and completed 2 targets and more doing 75 points
For 08th Dec:
Sustaining above 18590 enter for 18610 - 18630 - 18680, SL 18570
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.
So far this week Nifty has made a low of 18528.40 today almost reaching its initial weekly short targets of 18520 - 18490 and closed at 18560.50
Now in the coming session Nifty sustaining below 18560 can move towards 18520 - 18490 and breaking below 18490 can move further towards 18415 - 18330 next. On the upside Nifty has immediate resistance at 18640 now which it needs to break and sustain for a move towards 18680 - 18750.
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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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