In the previous session:
Nifty went down by 149 points before closing lower by 92 points on Tuesday
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 26th Mar:
Nifty triggered our short trade with a gap down near our 2nd target and did not give a trade
For 27th Mar:
Sustaining above 22065 can move towards 22105 - 22150 - 22270, SL 22025
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty triggered our short trade closing below 21880 and almost completed our initial targets till 21730 - 21690 with a low of 21710.20 doing 150+ points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22200 - 22265 to move towards its initial weekly long targets of 22435 - 22480
Closing above 22480 Nifty may move towards its last weekly long targets of 22630 - 22800
On the downside:
Nifty has to sustain and close below its weekly support at 21995 - 21930 to move towards its initial weekly short targets of 21755 - 21710
Closing below 21710 Nifty may move towards its last weekly short targets of 21560 - 21400
So far this week Nifty has made a low of 21947.55 testing our weekly support zone of 21995 - 21930 and closed at 22004.70
Now in the coming session Nifty sustaining below 21940 can move towards 21860 - 21740. On the upside Nifty sustaining above 22065 can move towards 22150 - 22270 where it has 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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