In the previous session:
Nifty went up by 235 points before closing higher by 223 points on Monday
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 29th Apr:
Nifty triggered our long trade and almost completed all targets doing 150 points
For 30th Apr:
Sustaining above 22700 can move towards 22735 - 22775 - 22880, SL 22660
(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 22295 and made a high of 22620.40 doing 300+ points but fell short of our last weekly long targets of 22630 - 22670
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 22515 - 22575 to move towards its initial weekly long targets of 22740 - 22780
Closing above 22780 Nifty may move towards its last weekly long targets of 22920 - 23050
On the downside:
Nifty has to sustain and close below its weekly support at 22325 - 22265 to move towards its initial weekly short targets of 22100 - 22060
Closing below 22060 Nifty may move towards its last weekly short targets of 21920 - 21770
So far this week Nifty has made a high of 22655.80 and closed at 22643.40 triggering our weekly long trade. The stoploss for the weekly long is 22465 on closing basis.
Now in the coming session Nifty sustaining above 22700 can move towards 22775 - 22825. On the downside Nifty sustaining below 22585 can move towards 22515 - 22465 where it can take 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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