In the previous session:
Nifty went down by 218 points before closing lower by 35 points on Tuesday
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 20th Dec:
Nifty triggered our short trade with a gap down near our 1st short target and fell further to complete all targets doing 120 points.
For 21st Dec:
Sustaining above 18430 enter for 18460 - 18490 - 18580, SL 18400
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18335 - 18375 to move towards initial long targets of 18485 - 18515.
Closing above 18515 Nifty may move towards next long targets of 18610 - 18715
On the downside:
Nifty has to sustain and close below its immediate support at 18205 - 18165 to move towards initial short targets of 18050 - 18020.
Closing below 18020 Nifty may move towards next targets of 17930 - 17820.
So far this week Nifty made a low of 18202.65 testing our weekly support zone of 18205 - 18165 and bounced back to close at 18385.30 just above its weekly resistance zone of 18335 - 18375.
Now in the coming sessions Nifty sustaining above 18375 can move towards 18485 - 18515. On the downside Nifty has immediate support at 18205 - 18165.
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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.
No comments:
Post a Comment