In the previous session:
Nifty went up by 63 points then went down by 25 point before closing lower by 9 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 23rd Nov:
Nifty triggered our long trade and completed just 1 target doing 20 points and took our stoploss.
For 24th Nov:
Sustaining above 19835 can move towards 19860 - 19885 - 19950, SL 19815
In the Previous Week:
Nifty triggered our weekly long trade above 19520 and completed all targets till 19720 - 19810 with a high of 19875.25
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19790 - 19825 to move towards its initial weekly long targets of 19920 - 19945
Closing above 19945 Nifty may move towards its last weekly long targets of 20030 - 20120
On the downside:
Nifty has to sustain and close below its weekly support at 19675 - 19640 to move towards its initial weekly short targets of 19545 - 19515
Closing below 19515 Nifty may move towards its last weekly short targets of 19440 - 19350
So far this week Nifty has made a low of 19670.50 testing our weekly support zone of 19675 - 19640 and bounced to make a high of 19875.15 breaking our weekly resistance zone of 19790 - 19825 and closed at 19802. Nifty did not confirm our weekly long or short trade this week and has been trading sideways
Now in the coming session Nifty has to break and sustain above 19825 for a move towards 19920 - 19945 where we may see good resistance. On the downside Nifty breaking below 19765 has immediate support at 19675 - 19640. Overall expecting Nifty to trade sideways till its trading between 19600 - 19900. Need a close beyond this range for a further trending move on that side for the rest of the month.
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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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