In the previous session:
Nifty went up by 57 points then went down by 5 points before closing higher by 36 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 08th Nov:
Nifty traded between our long and short trigger zone indicating indecisiveness
For 09th Nov:
Sustaining above 19480 can move towards 19505 - 19530 - 19600, SL 19455
In the Previous Week:
Nifty traded between our long and short trigger zone the entire week and confirmed our weekly long on Friday
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19335 - 19395 to move towards its initial weekly long targets of 19570 - 19620
Closing above 19620 Nifty may move towards its last weekly long targets of 19765 - 19935
On the downside:
Nifty has to sustain and close below its weekly support at 19130 - 19065 to move towards its initial weekly short targets of 18890 - 18845
Closing below 18845 Nifty may move towards its last weekly short targets of 18700 - 18530
So far this week Nifty triggered our long trade with a close above 19395 and so far made a high of 19464.40. Now the stoploss for this would be a close below 19280.
Now in the coming session Nifty sustaining above 19395 can move towards 19570 - 19620 where it may face strong resistance. On the downside Nifty has immediate support at 19350 and has to break and sustain below it for a further move towards 19275 - 19180
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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
No comments:
Post a Comment