In the previous session:
Nifty went up by 178 points then went down by 186 points before closing lower by 152 points on Thursday
Nifty made a new lifetime high of 22775.70 on 10th Apr 2024 from the lows of 7511.10 made on 24th March 2020
On 18th Apr:
Nifty triggered our long trade and completed 2 targets doing 65 points and exceeded it by 60 points and took our TSL. Post that Nifty triggered our short trade and almost completed all targets doing 130 points.
For 19th Apr:
Sustaining above 22050 can move towards 22080 - 22120 - 22210, SL 22010
(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 22605 and completed our initial targets till 22700 - 22725 with a high of 22775.70 doing 150 points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22590 - 22630 to move towards its initial weekly long targets of 22750 - 22780
Closing above 22780 Nifty may move towards its last weekly long targets of 22880 - 22990
On the downside:
Nifty has to sustain and close below its weekly support at 22450 - 22405 to move towards its initial weekly short targets of 22290 - 22260
Closing below 22260 Nifty may move towards its last weekly short targets of 22155 - 22045
So far this week Nifty has made a low of 21961.70 and today closed at 21995.85. Nifty has completed its last weekly short targets till 22045 and exceeded it 80 points. Now Nifty is near crucial supports of 21940 - 21820 and we can see a bounce back till 22350 - 22500.
Now in the coming session Nifty sustaining above 22050 can move towards 22120 - 22210. On the downside Nifty sustaining below 21945 can move towards 21875 - 21775 where it has strong support and we can see a good bounce if held.
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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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