In the previous session:
Nifty went down by 80 points then went up by 207 points before closing higher by 149 points on Thursday
Nifty made a new lifetime high of 22526.60 on 11th Mar 2024 from the lows of 7511.10 made on 24th March 2020
On 14th Mar:
Nifty triggered our long trade and almost completed all targets doing 140 points
For 15th Mar:
Sustaining above 22205 can move towards 22235 - 22270 - 22320, SL 22165
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty traded sideways between our weekly long and short trigger levels
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22585 - 22645 to move towards its initial weekly long targets of 22810 - 22850
Closing above 22850 Nifty may move towards its last weekly long targets of 22980 - 23130
On the downside:
Nifty has to sustain and close below its weekly support at 22400 - 22340 to move towards its initial weekly short targets of 22180 - 22140
Closing below 22140 Nifty may move towards its last weekly short targets of 22000 - 21850
So far this week Nifty sustaining below 22340 has made a low of 21905.65 almost completing our last weekly short targets of 22000 - 21850 and recovered to close today at 22146.65. The trailing stoploss for the weekly short trade was a hourly close above 22155 which has been saved today. Tomorrow being the last day of the week follow the daily levels strictly.
Now in the coming session Nifty has to sustain below 22090 to move towards 22020 - 21975. On the upside Nifty sustaining above 22205 can move towards 22270 - 22320 where it can face strong resistance.
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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