In the previous session:
Nifty went up by 55 points then went down by 199 points before closing lower by 113 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 09th Dec:
Nifty initially triggered our long trade and took our stoploss. Post that Nifty reversed to trigger our short trade and completed all targets and more doing 170 points
For 12th Dec:
Sustaining above 18530 enter for 18550 - 18570 - 18630, SL 18505
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18550 - 18580 to move towards initial long targets of 18670 - 18695.
Closing above 18695 Nifty may move towards next long targets of 18770 - 18850
On the downside:
Nifty has to sustain and close below its immediate support at 18445 - 18410 to move towards initial short targets of 18320 - 18300.
Closing below 18300 Nifty may move towards next targets of 18225 - 18140.
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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