In the previous session:
Nifty went up by 205 points before closing higher by 181 points on Friday
Nifty made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511.10 made on 24th March 2020
On 01st Sep:
Nifty triggered our long trade and completed all targets doing 80 points and exceeded it by another 100 points on the back of short covering
For 04th Sep:
Sustaining above 19470 enter for 19490 - 19510 - 19570, SL 19445
In the Previous Week:
Nifty triggered our weekly long trade above 19335 and completed our initial weekly long targets till 19400 - 19420 with a high of 19458 and then took our stoploss
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19490 - 19520 to move towards its initial weekly long targets of 19615 - 19635.
Closing above 19635 Nifty may move towards its last weekly long targets of 19715 - 19800
On the downside:
Nifty has to sustain and close below its weekly support at 19380 - 19350 to move towards its initial weekly short targets of 19255 - 19235
Closing below 19235 Nifty may move towards its last weekly short targets of 19160 - 19070
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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