In the previous session:
Nifty went up by 56 points then went down by 65 points before closing higher by 30 points on Friday
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 10th Nov:
Nifty initially triggered our long trade and completed only 1 target doing 20 points and took our stoploss. Post that Nifty reversed to trigger our short trade and again completed just 1 target.
For 13th Nov:
Sustaining above 19560 can move towards 19580 - 19600 - 19660, SL 19535
In the Previous Week:
Nifty triggered our long but did not complete any targets or took our weekly stoploss indicating indecisiveness
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19480 - 19520 to move towards its initial weekly long targets of 19615 - 19635
Closing above 19635 Nifty may move towards its last weekly long targets of 19720 - 19810
On the downside:
Nifty has to sustain and close below its weekly support at 19370 - 19330 to move towards its initial weekly short targets of 19240 - 19215
Closing below 19215 Nifty may move towards its last weekly short targets of 19130 - 19040
Today in the diwali muhurat session we have got a close above 19520 at 19525.55 but let's see if we can get a close in Monday's full session to assume that weekly long is triggered. The cbsl for the weekly long if triggered would be 19450 on closing basis
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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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