In the previous session:
Nifty went up by 145 points then went down by 19 points before closing higher by 81 points on Monday
Nifty made a new lifetime high of 22186.65 on 19th Feb 2024 from the lows of 7511.10 made on 24th March 2020
On 19th Feb:
Nifty triggered our long trade and almost completed 2 targets doing 45 points and exceeded it by 30 points
For 20th Feb:
Sustaining above 22170 can move towards 22195 - 22230 - 22310, SL 22135
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty triggered our weekly short trade and took our stoploss without completing any targets
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22120 - 22170 to move towards its initial weekly long targets of 22305 - 22340
Closing above 22340 Nifty may move towards its last weekly long targets of 22455 - 22585
On the downside:
Nifty has to sustain and close below its weekly support at 21960 - 21910 to move towards its initial weekly short targets of 21780 - 21740
Closing below 21740 Nifty may move towards its last weekly short targets of 21630 - 21500
So far this week Nifty has made a high of 22186.65 breaking above our weekly resistance zone and closed at 22122.25.
Now in the coming session Nifty has to sustain/close above 22170 to move towards 22305 - 22340. On the downside Nifty sustaining below 22075 has immediate support at 22015 - 21960
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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