In the previous session:
Nifty went down by 159 points then went up by 10 points before closing lower by 46 points on Thursday
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 19th Oct:
Nifty triggered our short trade with a big gap down below our 2nd target and did not give a trade
For 20th Oct:
Sustaining above 19665 can move towards 19690 - 19720 - 19790, SL 19635
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 has made a high of 19849.75 testing our weekly resistance zone of 19820 - 19865 and today made a low of 19512.35 reaching our initial weekly short target zone of 19520 - 19485 and closed at 19624.70 triggering our weekly short trade. The cbsl for the weekly short trade is 19720.
Now in the coming session Nifty has to sustain below 19635 to move towards 19520 - 19485. On the upside Nifty has to break and sustain above 19665 to move towards its immediate resistance at 19690 - 19720
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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