In the previous session:
Nifty went down by 173 points before closing lower by 141 points on Monday
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 09th Oct:
Nifty triggered our short trade with a gap down below our 2nd short target and corrected further by 70 points to complete all our targets
For 10th Oct:
Sustaining above 19555 can move towards 19580 - 19615 - 19695, SL 19525
In the Previous Week:
Nifty traded triggered our weekly short trade closing below 19530 and completed our initial targets of 19415 - 19385 with a low of 19333.60
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19720 - 19760 to move towards its initial weekly long targets of 19870 - 19900
Closing above 19900 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 19590 - 19550 to move towards its initial weekly short targets of 19435 - 19405
Closing below 19405 Nifty may move towards its last weekly short targets of 19315 - 19205
So far this week Nifty has made a low of 19480.50 breaking below our weekly support zone of 19590 - 19550 and closed at 19512.35 triggering our weekly short trade. The cbsl for the weekly short trade is now 19625.
Now in the coming session Nifty sustaining below 19550 can move towards 19435 - 19405. On the upside Nifty has to immediate resistance at 19590 - 19630 and has to close above this zone for a further bounce
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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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