In the previous session:
Nifty went up by 109 points then went down by 2.50 points before closing higher by 93 points on Monday
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 04th Sep:
Nifty triggered our long trade with a gap up above our 2nd target and did not give a entry. Post that Nifty corrected by 90 points and again went up to trigger our long trade and completed 2 targets and more doing 70 points
For 05th Sep:
Sustaining above 19565 enter for 19585 - 19610 - 19670, SL 19540
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
So far this week Nifty made a high of 19545.15 breaking above our weekly resistance zone of 19490 - 19520 and closed at 19528.80 triggering our weekly long.
Now in the coming session Nifty sustaining above 19520 can move towards 19615 - 19635 where it may face resistance. On the downside Nifty has immediate support at 19490 and has to break and sustain below it for a move towards 19450 - 19400. Stoploss for weekly long trade is hourly close below 19460.
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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
No comments:
Post a Comment