Sunday, 23 August 2020

Nifty Spot Outlook for 24th Aug

 In the previous session : 

Nifty went up by 106 points before closing higher by 59 points on Friday as compared to the previous day's close.

Nifty had made a life time high of 12430.50 on 20th January and again failed to give a strong close above its congestion zone of 12300 - 12375 for the upward momentum to continue and we saw a correction till 7511.10 now . 

On 21st Aug :

Nifty triggered our long trade with a gap up near our last target and gave no chance to enter 

For 24th Aug :

Sustaining above 11405 enter for 11420 - 11445 - 11500 , SL 11380

Sustaining below 11340 enter for 11320 - 11300 - 11245 , SL 11365

Nifty has immediate resistance near 11420 - 11450 for this week. Only on closing above 11450 we can expect a further move else we can see some correction.

Incase we get a gap up beyond the 1st target then will update fresh levels as per pre opening on the telegram channel "simplytradestocks"

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Disclaimer : These are my personal views and one should do their own research 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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