In the previous session:
Nifty went up by 85 points then went down by 9 points before closing higher by 46 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 02nd Jun:
Nifty triggered our long trade by opening near our 2nd long target and did not give a chance to trade. Post that the entire day it traded sideways between our long and short trigger points.
For 05th Jun:
Sustaining above 18565 enter for 18585 - 18605 - 18665, SL 18545
In the Previous Week:
Nifty confirmed our long trade on closing above 18600 and but did not complete any targets and took our stoploss
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 18585 - 18615 to move towards its initial weekly long targets of 18700 - 18725.
Closing above 18725 Nifty may move towards its last weekly long targets of 18800 - 18880
On the downside:
Nifty has to sustain and close below its weekly support at 18485 - 18450 to move towards initial weekly short targets of 18365 - 18345
Closing below 18345 Nifty may move towards next targets of 18270 - 18190
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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