In the previous session:
Nifty went down by 94 points then went up by 84 points before closing higher by 61 points on Tuesday
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 20th Jun:
Nifty initially triggered our short trade and completed 2 targets and more doing 50 points. Post that Nifty reversed to trigger our long trade and again completed 2 targets and more doing 50 points indicating indecisiveness
For 21st Jun:
Sustaining above 18850 enter for 18870 - 18890 - 18950, SL 18825
In the Previous Week:
Nifty confirmed our weekly long trade above 18640 and almost completed all weekly long targets till 18800 - 18880 with a high of 18864.70 giving 220 points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 18880 - 18915 to move towards its initial weekly long targets of 19000 - 19025.
Closing above 19025 Nifty may move towards its last weekly long targets of 19100 - 19190
On the downside:
Nifty has to sustain and close below its weekly support at 18770 - 18740 to move towards initial weekly short targets of 18650 - 18625
Closing below 18625 Nifty may move towards its last weekly short targets of 18550 - 18470
So far this week Nifty made a high of 18881.45 testing our weekly resistance zone of 18880 - 18915 and corrected to make a low 18660.65 almost reaching our initial weekly short targets of 18650 - 18625 and closed at 18816.70
Now in the coming session Nifty has immediate resistance at 18880 - 18915 and has to break and sustain above it for a further move towards 19000 - 19025. Nifty has immediate support at 18650 - 18625 on breaking and sustaining below 18740.
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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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