Nifty Expiry Support&Resistance Levels for 21 st Nov Thursday
Immediate Support:
23425 to 23350 area: If this support range holds, you are suggesting a possible long trade. The targets for this long position would be:
23500
23550
23600
23670
Voilation of supports and sustains below 23200 and 23k targets will open up.
Immediate Resistance:
23670 area: This level is critical. You are considering two possibilities here:
Rejection at 23670: If price reverses from this level, it could be an opportunity to short the market.
Breakout above 23670: A breakout would signal a potential long trade, with targets extending up to the next resistance range of 23750 to 23800,23850.
Expected Range for the Week:
450-point range: Expecting Nifty to trade within a range of approximately 450 points unless geopolitical tensions (like the Russia-Ukraine conflict) cause significant market disruption.
This is a well-structured approach with clear levels for both support and resistance, and it effectively accounts for both technical signals and geopolitical risks. Keeping an eye on these levels should help in managing trades this week.
23425 to 23350 area: If this support range holds, you are suggesting a possible long trade. The targets for this long position would be:
23500
23550
23600
23670
Voilation of supports and sustains below 23200 and 23k targets will open up.
Immediate Resistance:
23670 area: This level is critical. You are considering two possibilities here:
Rejection at 23670: If price reverses from this level, it could be an opportunity to short the market.
Breakout above 23670: A breakout would signal a potential long trade, with targets extending up to the next resistance range of 23750 to 23800,23850.
Expected Range for the Week:
450-point range: Expecting Nifty to trade within a range of approximately 450 points unless geopolitical tensions (like the Russia-Ukraine conflict) cause significant market disruption.
This is a well-structured approach with clear levels for both support and resistance, and it effectively accounts for both technical signals and geopolitical risks. Keeping an eye on these levels should help in managing trades this week.
Nota
Both support got voilated now retested suscessfully shorting looks good here
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