In the previous session:
Nifty went down by 26 points then went up by 260 points before closing higher by 243 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 03rd Feb:
Nifty triggered our long trade and almost completed all targets and more doing 150+ points
For 06th Feb:
Sustaining above 17910 enter for 17945 - 17990 - 18100, SL 17870
In the Previous Week:
Nifty broke below our weekly support multiple times but failed to give a close above it and on Friday gave a close above its weekly resistance.
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17950 - 18010 to move towards its initial long targets of 18170 - 17210.
Closing above 18210 Nifty may move towards next long targets of 18340 - 18490
On the downside:
Nifty has to sustain and close below its immediate support at 17760 - 17700 to move towards initial short targets of 17540 - 17500.
Closing below 17500 Nifty may move towards next targets of 17370 - 17210.
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: 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.
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