In the previous session:
Nifty went down by 84 points then went up by 141 points before closing higher by 98 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 13th Jan:
Nifty initially triggered our short trade and completed just 1 target and took our stoploss. Post that Nifty reversed to trigger our long trade and completed 2 targets doing 65 points
For 16th Jan:
Sustaining above 18010 enter for 18035 - 18075 - 18170, SL 17970
In the Previous Week:
Nifty traded between our weekly support and resistance for most part of the week
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 18040 - 18090 to move towards its initial long targets of 18230 - 18265.
Closing above 18265 Nifty may move towards next long targets of 18385 - 18520
On the downside:
Nifty has to sustain and close below its immediate support at 17875 - 17825 to move towards initial short targets of 17685 - 17650.
Closing below 17650 Nifty may move towards next targets of 17530 - 17400.
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: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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