In the previous session:
Nifty went down by 195 points before closing lower by 92 points on Wednesday
Nifty made a new lifetime high of 20222.45 on 15th Sep 2023 from the lows of 7511.10 made on 24th March 2020
On 04th Oct:
Nifty triggered our short trade by opening below our 1st target and completed all targets still doing 100 points and exceeded it by 25 points
For 05th Oct:
Sustaining above 19470 can move towards 19495 - 19520 - 19580, SL 19445
In the Previous Week:
Nifty traded sideways mostly between our weekly long and short trigger zone
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19705 - 19750 to move towards its initial weekly long targets of 19865 - 19895
Closing above 19895 Nifty may move towards its last weekly long targets of 19990 - 20100
On the downside:
Nifty has to sustain and close below its weekly support at 19570 - 19530 to move towards its initial weekly short targets of 19415 - 19385
Closing below 19385 Nifty may move towards its last weekly short targets of 19285 - 19180
So far this week Nifty made a low of 19333.60 completing our initial weekly short targets of 19415 - 19385 after triggering our weekly short trade in the previous session with a close below 19530 and today closed at 19436.10. The cbsl for the weekly short trade is 19630
Now in the coming session Nifty has to break and sustain /close below 19385 to move towards its last weekly short targets of 19285 - 19180. On the upside Nifty has immediate resistance at 19470 - 19500 and has to break and sustain above it to move towards 19530 - 19570
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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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