Nifty going to make new all time high soon | Nifty soon @ 20200+

11 Okt 2023

Hello Traders.

Nifty is doing well since 2 days, Today also it has done well, and closed above 19800 which is positive sign for nifty. On weekly timeframe nifty has formed long bullish candlestick pattern and before to that we have seen a hammer pattern. All these indicating that Bullishness has come back in market, and market is ready to fly. We have seen recent low on nifty around 19343, that can act like strong support zone in near term. Well if nifty take u turn from here, then it can take support at 19650 levels. And that area will be really good for taking entry in it. Well you guy's can start accumulating from here only. Well any decisive move above 19800 can take nifty sharply above 20000+. If i talk about monthly open interest data. Then Maximum call open interest is available at 20000 strike, followed by 19900 strike, and the maximum put open interest is available at 19600 strike, and followed by 19800 strike.

So if you guy's get levels around 19650-19700, take it and then place your stop loss at 19358 levels. Target i have already mention on chart.

Important levels for Nifty:-

Near term support zone 19650
Strong Support Zone 19350

Near term resistance zone 19900
Strong Resistance zone 20000

Start buying from current levels and accumulate more if you get lower levels towards 19650.
And then hold and sit tight, nifty will be ready to fly towards 20200+ levels in coming few session. We might can see follow up buying in index if we don't see any negativity in market. So start buying little little from current levels..

Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Thankyou