In the previous session:
Nifty went down by 23 points then went up by 64 points before closing higher by 48 points on Thursday
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 08th Dec:
Nifty triggered our long trade and almost completed 2 targets doing 35 points
For 09th Dec:
Sustaining above 18640 enter for 18655 - 18680 - 18730, SL 18620
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 almost reaching its initial weekly short targets of 18520 - 18490 and today bounced back to close at 18609.35
Now in the coming session Nifty has immediate support at 18520 - 18490 and breaking below 18490 can move further towards 18415 - 18330 next. On the upside Nifty has immediate resistance at 18610 - 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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