In the previous session:
Nifty went up by 65 points then went down by 207 points before closing lower by 160 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 25th Oct:
Nifty initially triggered our long trade and took our stoploss. Post that Nifty reversed to trigger our short trade and completed all targets doing 120 points and exceeded it by another 45 points
For 26th Oct:
Sustaining above 19160 can move towards 19180 - 19205 - 19270, SL 19130
In the Previous Week:
Nifty triggered our weekly short trade below 19635 and made a low of 19512.35 reaching our initial weekly short target zone and doing 120 points.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19605 - 19640 to move towards its initial weekly long targets of 19740 - 19770
Closing above 19770 Nifty may move towards its last weekly long targets of 19855 - 19950
On the downside:
Nifty has to sustain and close below its weekly support at 19480 - 19445 to move towards its initial weekly short targets of 19345 - 19315
Closing below 19315 Nifty may move towards its last weekly short targets of 19230 - 19140
So far this week Nifty triggered our weekly short trade below 19445 and made a low of 19074.15 completing all our weekly short targets till 19230 - 19140 doing 300 points and exceed it by 65 points and closed today at 19122.15.
Now in the coming Nifty sustaining below 19050 can move towards 18910 - 18800 where it has strong support and some pullback can be seen. On the upside Nifty sustaining above 19230 has immediate resistance at 19315 - 19350
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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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