In the previous session:
Nifty went up by 52 points then went down by 199 points before closing lower by 142 points on Wednesday
Nifty made a new lifetime high of 22249.40 on 21st Feb 2024 from the lows of 7511.10 made on 24th March 2020
On 21st Feb:
Nifty triggered our short trade and completed all targets doing 150 points
For 22nd Feb:
Sustaining above 22095 can move towards 22120 - 22150 - 22220, SL 22065
(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 22249.40 and closed at 22055.05 taking our cbsl for the weekly long trade triggered yesterday. The cbsl for the weekly long trade was 22080
Now in the coming session Nifty sustaining above 22095 can move towards 22150 - 22170. On the downside Nifty sustaining below 22015 has immediate support at 21960 - 21910
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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