In the previous session:
Nifty went up by 102 points then went down by 54 points before closing lower by 23 points on Tuesday
Nifty made a new lifetime high of 22619 on 04th Apr 2024 from the lows of 7511.10 made on 24th March 2020
On 09th Apr:
Nifty opened with a gap up near our 2nd long target and did not give a trade. Post that Nifty traded sideways the whole day
For 10th Apr:
Sustaining above 22675 can move towards 22695 - 22715 - 22775, SL 22650
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty triggered our weekly long trade sustaining above 22470 and reached our initial targets till 22620 - 22655 with a high of 22619 doing 150 points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22570 - 22605 to move towards its initial weekly long targets of 22700 - 22725
Closing above 22725 Nifty may move towards its last weekly long targets of 22800 - 22890
On the downside:
Nifty has to sustain and close below its weekly support at 22460 - 22425 to move towards its initial weekly short targets of 22330 - 22305
Closing below 22305 Nifty may move towards its last weekly short targets of 22225 - 22150
So far this week Nifty had made a high of 22768.40 on sustaining above our weekly long trigger of 22605 and completed our initial weekly long target zone of 22700 - 22725 and closed at 22642.75. The trailing cbsl for the weekly long trade can kept at 22570 on hourly close now.
Now in the coming session Nifty has to sustain above 22675 for a move towards 22715 - 22775. On the downside Nifty sustaining below 22610 can move towards 22570 - 22510
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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
No comments:
Post a Comment