In the previous session:
Nifty went up by 32 points then went down 160 points before closing lower by 132 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 24th Mar:
Nifty triggered our short trade and almost completed all targets doing 100 points
For 27th Mar:
Sustaining above 16980 enter for 17000 - 17030 - 17090, SL 16955
In the Previous Week:
Nifty confirmed our short trade and made a low of 16828.35 completing our initial weekly short target of 16840 - 16800 and then bounced back to trigger our trailing stoploss on weekly levels .
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 17000 - 17040 to move towards its initial weekly long targets of 17140 - 17165.
Closing above 17165 Nifty may move towards next long targets of 17240 - 17340
On the downside:
Nifty has to sustain and close below its weekly support at 16890 - 16850 to move towards initial weekly short targets of 16760 - 16730
Closing below 16730 Nifty may move towards next targets of 16650 - 16550.
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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