In the previous session:
Nifty went down by 200 points before closing lower by 186 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 05th May:
Nifty opened below our last target but later a bounce till near our short trigger and fell again to complete all targets and more doing 150+ points
For 08th May:
Sustaining above 18110 enter for 18135 - 18165 - 18240, SL 18080
In the Previous Week:
Nifty confirmed our long trade on closing above 18140 and almost touched our last target zone of 18285 - 18350 with a high of 18267.45 . Overall Nifty gave a 120 points move after confirming our weekly long
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 18135 - 18175 to move towards its initial weekly long targets of 18290 - 18320.
Closing above 18320 Nifty may move towards its last weekly long targets of 18410 - 18520
On the downside:
Nifty has to sustain and close below its weekly support at 18000 - 17960 to move towards initial weekly short targets of 17850 - 17820
Closing below 17820 Nifty may move towards next targets of 17730 - 17620.
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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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