In the previous session :
Nifty went up by 130 points before closing higher by 122 points on Monday.
Nifty made a new life time high of 15952.35 in this upmove from the lows of 7511.10 made on 24th March 2020
On 02nd Aug :
Nifty triggered our long trade and completed 2 targets and more doing 85 points .
For 03rd Aug :-
Sustaining above 15925 enter for 15945 - 15970 - 16035 , SL 15895
Now for this week :
Nifty has immediate resistance at 15825 - 15865 zone and sustaining or closing above we may see a further move towards 15975 - 16000 zone
Nifty has immediate support at 15700 - 15660 zone and sustaining or closing below that we may see a move towards 15555 - 15525 zone
So far this week Nifty has made a high of 15892.90 and also closed above it initial resistance zone . Now as long as Nifty is holding above 15825 - 15865 we can see it move towards 15975 - 16000 zone .
In the month of July Nifty made a high of 15962.25 and made a low of 15513.45 .
For the month of August Nifty has to give a consecutive close above 15975 for a further move on the upside . On the downside Nifty has to give a consecutive close below 15550 for a further correction.
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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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