In the previous session:
Nifty went down by 107 points then went up by 111 points before closing higher by 93 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 30th Oct:
Nifty initially triggered our short trade and missed our 2nd target by 20 points and took our stoploss. Post that Nifty reversed to trigger our long trade and again missed our 2nd target by 17 points doing 58 points
For 31st Oct:
Sustaining above 19200 can move towards 19235 - 19275 - 19385, SL 19160
In the Previous Week:
Nifty triggered our weekly short trade below 19445 and made a low of 18837.85 completing all our short targets till 19140 and exceeding it further by 300 points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19135 - 19190 to move towards its initial weekly long targets of 19340 - 19380
Closing above 19380 Nifty may move towards its last weekly long targets of 19505 - 19650
On the downside:
Nifty has to sustain and close below its weekly support at 18960 - 18905 to move towards its initial weekly short targets of 18755 - 18715
Closing below 18715 Nifty may move towards its last weekly short targets of 18590 - 18445
So far this week Nifty has made a low of 18940 testing our weekly support zone and bounced back to make a high of 19158.50 testing our weekly resistance zone.
Now in the coming session Nifty has to break and sustain above 19190 to move towards its initial weekly long targets of 19340 - 19380 and failing to so it can retest its weekly support zone. On the downside Nifty has to break and sustain below 18905 to move towards its initial weekly short targets of 18755 - 18715.
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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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