In the previous session:
Nifty went up by 26 points then went down 91 points before closing lower by 38 points on Monday
Nifty made a new lifetime high of 21492.30 on 15th Dec 2023 from the lows of 7511.10 made on 24th March 2020
On 18th Dec:
Nifty triggered our short trade and did 55 points missing our 2nd short target by 15 points.
For 19th Dec:
Sustaining above 21465 can move towards 21495 - 21525 - 21610, SL 21430
In the Previous Week:
Nifty completed all weekly long targets till 21380 - 21500 making a high of 21492.30 on closing above 21100.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 21530 - 21580 to move towards its initial weekly long targets of 21710 - 21740
Closing above 21740 Nifty may move towards its last weekly long targets of 21850 - 21970
On the downside:
Nifty has to sustain and close below its weekly support at 21380 - 21330 to move towards its initial weekly short targets of 21210 - 21170
Closing below 21170 Nifty may move towards its last weekly short targets of 21070 - 20950
So far this week Nifty has made a low of 21365.35 testing our weekly support zone and closed at 21418,65.
Now in the coming session Nifty has resistance at 21530 - 21580 on the upside. On the downside Nifty sustaining below 21330 can move towards 21210 - 21170.
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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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