Nifty Outlook for 26th Aug

 In the previous session :

Nifty went up by 88 points then went down by 7 points before closing higher by 10 points on Wednesday.

Nifty made a new life time high of 16712.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 25th Aug :-

Nifty triggered our long trade and completed 2 targets doing 45 points. 

For 26th Aug :-

Sustaining above 16665 enter for 16685 - 16710 - 16765 , SL 16645

Sustaining below 16600 enter for 16585 - 16560 - 16500 , SL 16625

Now for this week :

Nifty has immediate resistance at 16495 - 16525 zone and sustaining or closing above we may see a further move towards 16605 - 16625 zone

Nifty has immediate support at 16405 - 16375 zone and sustaining or closing below that we may see a move towards 16295 - 16275 zone

So far this week Nifty made a high of 16712.45 breaking above our next resistance zone and testing our last target zone of 16695 - 16765 . Now in the coming session Nifty has to hold above 16560 on dips and has to sustain above 16625 to move again towards 16695 - 16765 . Breaking and sustaining below 16560 we can see a dip again towards 16495 - 16455 levels. 

In the month of July Nifty made a high of 15962.25 and made a low of  15513.45 .

As mentioned at the start of the month "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." , and we saw Nifty make a high of 16712.45 giving a 740 points move post a consecutive close above 15975 . 

Nifty completed all our expected targets on the upside of 16650 - 16700 zone with a high of 16712.45 and we can see some profit booking from there .

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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.