In the previous session:
Nifty went up by 114 points then went down by 82 points before closing lower by 3 points on Tuesday
Nifty made a new lifetime high of 20110.35 on 12th Sep 2023 from the lows of 7511.10 made on 24th March 2020
On 12th Sep:
Nifty opened with a gap up near our last target and did not give a trade. Post that Nifty triggered our short trade and completed 2 targets doing 45 points
For 13th Sep:
Sustaining above 20025 can move towards 20045 - 20070 - 20130, SL 20000
In the Previous Week:
Nifty triggered our weekly long trade above 19520 and completed all our weekly long targets till 19715 - 19800 doing 280 points and exceeded it by 60 points with a high of 19867.15
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19865 - 19895 to move towards its initial weekly long targets of 19975 - 19995.
Closing above 19995 Nifty may move towards its last weekly long targets of 20065 - 20140
On the downside:
Nifty has to sustain and close below its weekly support at 19775 - 19745 to move towards its initial weekly short targets of 19665 - 19645
Closing below 19645 Nifty may move towards its last weekly short targets of 19575 - 19500
So far this week Nifty made a high of 20110.35 reaching our last weekly long targets of 20065 - 20140 on sustaining above 19895 and closed today at 19993.20.
Now in the coming session Nifty has to sustain above 19995 to move again towards its last weekly long targets of 20065 - 20140. On the downside Nifty has immediate support at 19895 - 19865 on dips and holding the same it can again bounce back. For the weekly long trade triggered the stoploss would be 19840 on closing basis
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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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