In the previous session:
Nifty went down by 59 points then went up by 30 points before closing lower by 19 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 16th Oct:
Nifty traded sideways between our long and short trigger zone
For 17th Oct:
Sustaining above 19775 can move towards 19795 - 19825 - 19900, SL 19745
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
So far this week Nifty is trading sideways between our weekly long and short trigger zones. Now in the coming session Nifty breaking above 19775 has immediate resistance at 19820 - 19865. Nifty has immediate support at 19680 - 19635 on dips.
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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
No comments:
Post a Comment