In the previous session:
Nifty went down by 102 points then went up by 45 points before closing higher by 17 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 12th May:
Nifty triggered our short trade and almost completed 2 targets doing 55 points
For 15th May:
Sustaining above 18355 enter for 18385 - 18415 - 18490, SL 18325
In the Previous Week:
Nifty confirmed our long trade on closing above 18175 and almost reached our last target zone of 18410 - 18520 with a high of 18389.70. Overall Nifty gave a 200 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 18385 - 18425 to move towards its initial weekly long targets of 18545 - 18575.
Closing above 18575 Nifty may move towards its last weekly long targets of 18675 - 18785
On the downside:
Nifty has to sustain and close below its weekly support at 18245 - 17200 to move towards initial weekly short targets of 18090 - 18050
Closing below 18050 Nifty may move towards next targets of 17960 - 17850.
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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