In the previous session:
Nifty went up by 108 points before closing higher by 34 points on Wednesday
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 24th Apr:
Nifty triggered our long trade and completed just 1 target doing 35 point
For 25th Apr:
Sustaining above 22465 can move towards 22500 - 22545 - 22650, SL 22420
(One should ideally look to exit near the 2nd target once a trade is triggered)
In the Previous Week:
Nifty triggered our weekly short trade sustaining above 22260 and completed all our targets till 22155 - 22045 doing 200 points and exceeded it by 270 points with a low of 21777.65
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22240 - 22295 to move towards its initial weekly long targets of 22450 - 22500
Closing above 22500 Nifty may move towards its last weekly long targets of 22630 - 22770
On the downside:
Nifty has to sustain and close below its weekly support at 22055 - 22000 to move towards its initial weekly short targets of 21840 - 21800
Closing below 21800 Nifty may move towards its last weekly short targets of 21670 - 21520
So far this week Nifty has made a high of 22476.45 almost completing our initial weekly long targets of 22450 - 22500 and closed at 22402.40. The trailing stoploss for the weekly long trade is 22360 on hourly closing basis.
Now in the coming sessions Nifty sustaining above 22465 can move towards 22545 - 22600 where it has resistance. On the downside Nifty sustaining below 22340 can move towards 22260 - 22210.
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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