In the previous session:
Nifty went up by 117 points then went down by 299 points before closing lower by 258 points
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 Mar:
Nifty initially triggered our long trade and completed just 1 target and took our TSL. Post that Nifty triggered our short trade and completed all targets and more doing 200+ points
For 14th Mar:
Sustaining above 17220 enter for 17255 - 17300 - 17420, SL 17175
In the Previous Week:
Nifty confirmed our short trade and made a low of 17324.35 coming close to our initial weekly short target of 17285 - 17245
Now for this week:
On the upside:
Nifty has to sustain and close above its immediate resistance at 17505 - 17565 to move towards its initial long targets of 17720 - 17760.
Closing above 17760 Nifty may move towards next long targets of 17900 - 18040
On the downside:
Nifty has to sustain and close below its immediate support at 17320 - 17260 to move towards initial short targets of 17105 - 17065.
Closing below 17065 Nifty may move towards next targets of 16930 - 16780.
So far this week Nifty had made a high of 17529.90 testing our weekly resistance zone of 17505 - 17565 and reversed sharply to confirm our weekly short trade and almost reached our initial short weekly targets of 17105 - 17065 making a low of 17113.45 before closing at 17154.30
Now in the coming session Nifty sustaining below 17260 can move to complete its initial weekly short targets of 17105 - 17065 and if breaks and sustains below 17065 then can move next towards 16930 - 16780. On the upside Nifty has immediate resistance at 17260 - 17320 zone which it needs to break and sustain above for any further move.
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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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