In the previous session:
Nifty went down by 284 points before closing lower by 265 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 26th Oct:
Nifty initially triggered our short trade with a gap up below our 2nd target and did not give a entry. Though post that Nifty fell further by another 200 points
For 27th Oct:
Sustaining above 18900 can move towards 18925 - 18950 - 19030, SL 18870
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 18837.85 completing all our weekly short targets till 19230 - 19140 doing 300 points and has now exceeded it by further 300 points and closed today at 18857.25.
Now in the coming Nifty sustaining below 18815 can move towards 18760 - 18690 where it has its next support. On the upside Nifty sustaining above 18900 has immediate resistance at 19000 - 19150
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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