In the previous session:
Nifty went up by 91 points then went down by 29 points before closing higher by 52 points on Friday
Nifty made a new lifetime high of 21834.35 on 01st Jan 2024 from the lows of 7511.10 made on 24th March 2020
On 05th Jan:
Nifty triggered our long trade and missed our 2nd target by 10 points doing 50 points
For 08th Jan:
Sustaining above 21755 can move towards 21780 - 21810 - 21890, SL 21725
In the Previous Week:
Nifty triggered our weekly short trade but missed completing our initial weekly short targets and took our stoploss.
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 21780 - 21825 to move towards its initial weekly long targets of 21940 - 21970
Closing above 21970 Nifty may move towards its last weekly long targets of 22070 - 22180
On the downside:
Nifty has to sustain and close below its weekly support at 21640 - 21600 to move towards its initial weekly short targets of 21480 - 21450
Closing below 21450 Nifty may move towards its last weekly short targets of 21350 - 21240
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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