In the previous session:
Nifty went up by 105 points then went down by 38 points before closing higher by 68 points on Friday
Nifty made a new lifetime high of 21006.10 on 08th Dec 2023 from the lows of 7511.10 made on 24th March 2020
On 08th Dec:
Nifty triggered our long trade and completed just 1 target doing 15 points and took our stoploss. Post that Nifty traded sideways the whole day.
For 11th Dec:
Sustaining above 21015 can move towards 21045 - 21080 - 21170, SL 20985
In the Previous Week:
Nifty opened above our last weekly long target and moved up further by almost 500 points on the back of short covering based on election results in several states.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 21050 - 21100 to move towards its initial weekly long targets of 21230 - 21265
Closing above 21265 Nifty may move towards its last weekly long targets of 21380 - 21500
On the downside:
Nifty has to sustain and close below its weekly support at 20890 - 20840 to move towards its initial weekly short targets of 20710 - 20675
Closing below 20675 Nifty may move towards its last weekly short targets of 20560 - 20440
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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