In the previous session:
Nifty went up by 122 points before closing higher by 95 points on Tuesday
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 28th Nov:
Nifty triggered our long trade and completed 2 targets doing 45 points and went up further by 40 points almost reaching our last target
For 29th Nov:
Sustaining above 19920 can move towards 19940 - 19965 - 20020, SL 19900
In the Previous Week:
Nifty traded sideways between our long and short trigger zone and did not give any directional move
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19850 - 19885 to move towards its initial weekly long targets of 19985 - 20010
Closing above 20010 Nifty may move towards its last weekly long targets of 20090 - 20180
On the downside:
Nifty has to sustain and close below its weekly support at 19740 - 19705 to move towards its initial weekly short targets of 19605 - 19580
Closing below 19580 Nifty may move towards its last weekly short targets of 19500 - 19410
So far this week Nifty broke above our weekly resistance zone of 19850 - 19885 and made a high of 19916.85 and closed at 19889.70 triggering our weekly long trade for which the cbsl now is 19820.
Now in the coming session Nifty sustaining above 19885 can move towards 19985 - 20010. On the downside Nifty sustaining below 19860 has immediate support at 19820 - 19800 from where it can bounce again.
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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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