In the previous session:
Nifty went down by 106 points then went up by 67 points before closing lower by 18 points on Wednesday
Nifty made a new lifetime high of 22529.95 on 01st Apr 2024 from the lows of 7511.10 made on 24th March 2020
On 03rd Apr:
Nifty triggered our short trade and almost completed 2 targets as per the levels posted yesterday but as per the revised levels Nifty did not trigger our short trade and triggered our long trade and completed just 1 target doing 60 points
For 04th Apr:
Sustaining above 22470 can move towards 22495 - 22520 - 22580, SL 22445
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty triggered our long trade sustaining above 22265 and completed our initial targets till 22435 - 22480 with a high of 22516 doing 200+ points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22415 - 22470 to move towards its initial weekly long targets of 22620 - 22655
Closing above 22655 Nifty may move towards its last weekly long targets of 22780 - 22920
On the downside:
Nifty has to sustain and close below its weekly support at 22240 - 22185 to move towards its initial weekly short targets of 22035 - 22000
Closing below 22000 Nifty may move towards its last weekly short targets of 21870 - 21730
So far this week Nifty has made a new life time high of 22529.95 and today made a low of 22346.50 and closed at 22434.65. Nifty has been trading sideways so far this week.
Now in the coming session Nifty sustaining above 22470 can move towards 22520 - 22580. On the downside Nifty sustaining below 22400 can move towards 22350 - 22285 where is has good support.
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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