In the previous session:
Nifty went up by 158 points before closing higher by 135 points on Friday
Nifty made a new lifetime high of 20291.55 on 01st Dec 2023 from the lows of 7511.10 made on 24th March 2020
On 01st Dec:
Nifty initially triggered our long trade with a gap up above our 1st target and went on to complete all targets by gaining 70 points more and exceeded the last targets by 40 points
For 04th Dec:
Sustaining above 20300 can move towards 20315 - 20335 - 20390, SL 20275
In the Previous Week:
Nifty triggered our long trade above 19705 and completed all long targets till 20090 - 20180 doing 475 points and exceeded it by 110 points making a high of 20191.55
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 20315 - 20345 to move towards its initial weekly long targets of 20425 - 20445
Closing above 20445 Nifty may move towards its last weekly long targets of 20515 - 20590
On the downside:
Nifty has to sustain and close below its weekly support at 20220 - 20190 to move towards its initial weekly short targets of 20110 - 20090
Closing below 20090 Nifty may move towards its last weekly short targets of 20020 - 19950
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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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