In the previous session:
Nifty went up by 146 points before closing higher by 124 points on Thursday
Nifty made a new lifetime high of 21801.45 on 28th Dec 2023 from the lows of 7511.10 made on 24th March 2020
On 28th Dec:
Nifty triggered our long trade and almost completed 2 targets doing 80 points
For 29th Dec:
Sustaining above 21840 can move towards 21875 - 21920 - 22030, SL 21795
In the Previous Week:
Nifty completed all weekly short targets till 21210 - 21170 making a low of 20976.80 on sustaining below 21330.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 21455 - 21520 to move towards its initial weekly long targets of 21700 - 21750
Closing above 21750 Nifty may move towards its last weekly long targets of 21900 - 22060
On the downside:
Nifty has to sustain and close below its weekly support at 21245 - 21180 to move towards its initial weekly short targets of 21000 - 20950
Closing below 20950 Nifty may move towards its last weekly short targets of 20800 - 20650
So far this week Nifty triggered our long trade on sustaining above 21520 and has made a high of 21801.45 completing our initial weekly long targets of 21700 - 21750 and closed at 21778.70
Now in the coming session Nifty sustaining above 21750 can move towards its last long targets of 21900 - 22060. On the downside Nifty has immediate support at 21700 and sustaining below it can move towards its strong support at 21520 - 21455
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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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