In the previous session:
Nifty went up by 61 points then went down by 83 points before closing higher by 36 points on Wednesday
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 06th Sep:
Nifty triggered our short trade and completed 2 targets doing 45 points. Towards the end Nifty bounced back to trigger our long trade but completed just 1 target
For 07th Sep:
Sustaining above 19645 can move towards 19665 - 19690 - 19750, SL 19620
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 19636.45 completing our initial weekly long targets of 19615 - 19635 on closing above 19520 and today closed at 19611.05
Now in the coming session Nifty has to sustain above 19635 to move towards its last weekly long targets of 19715 - 19800. 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 the weekly long triggered is hourly close below 19490 now.
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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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