In the previous session:
Nifty went up by 186 points before closing higher by 144 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 02nd Nov:
Nifty triggered our long trade with a gap up near our last target and did not give a entry. Post that Nifty corrected and gave a chance to enter and again complete 2 targets
For 03rd Nov:
Sustaining above 19195 can move towards 19230 - 19275 - 19380, SL 19150
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 19233.70 breaking our weekly resistance zone but could not sustain and corrected immediately and today closed at 19133.25.
Now in the coming session Nifty has immediate resistance at 19135 - 19190 and has to sustain above it to move towards its initial weekly long targets of 19340 - 19380. On the downside Nifty has immediate support at 19050 and has to break and sustain below it to move towards 18960 - 18905.
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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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