In the previous session:
Nifty went up by 11 points then went down by 158 points before closing lower by 42 points on Friday
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 13th Oct:
Nifty triggered our short trade with a gap down near our last target and did not give a entry. Post that Nifty traded sideways for the rest of the day.
For 16th Oct:
Sustaining above 19795 can move towards 19820 - 19850 - 19930, SL 19765
In the Previous Week:
Nifty triggered our weekly short trade and took our stoploss.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19820 - 19865 to move towards its initial weekly long targets of 19985 - 20015
Closing above 20015 Nifty may move towards its last weekly long targets of 20115 - 20230
On the downside:
Nifty has to sustain and close below its weekly support at 19680 - 19635 to move towards its initial weekly short targets of 19520 - 19485
Closing below 19485 Nifty may move towards its last weekly short targets of 19385 - 19270
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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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