In the previous session:
Nifty went up by 68 points then went down by 77 points before closing lower by 55 points on Wednesday
Nifty made a new lifetime high of 19523.60 on 07th Jul 2023 from the lows of 7511.10 made on 24th March 2020
On 12th Jul:
Nifty triggered our long trade and completed just 1 target and took our stoploss. Post that Nifty triggered our short trade and again completed only 1 target indicating indecisiveness
For 13th Jul:
Sustaining above 19425 enter for 19450 - 19480 - 19550, SL 19395
In the Previous Week:
Nifty triggered our long trade on closing above 19300 and almost touched our last weekly long target zone of 19540 - 19650 with a high of 19523.60
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19400 - 19440 to move towards its initial weekly long targets of 19550 - 19580.
Closing above 19580 Nifty may move towards its last weekly long targets of 19675 - 19780
On the downside:
Nifty has to sustain and close below its weekly support at 19265 - 19225 to move towards initial weekly short targets of 19115 - 19085
Closing below 19085 Nifty may move towards its last weekly short targets of 18990 - 18880
So far this week Nifty has made a high of 19515.10 breaking above our weekly resistance zone of 19400 - 19440 and closed today at 19384.30. Nifty is yet to confirm its weekly long trade with a close above 19440.
Now in the coming session Nifty has immediate resistance at 19400 - 19440 and has to break and sustain above it to move towards its initial weekly long targets of 19550 - 19580.On the downside Nifty has immediate support at 19345 and has to break and sustain below it to move towards 19290 - 19220.
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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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