In the previous session :
Nifty went down by 124 points then went up by 50 points before closing higher by 5 points on Tuesday
Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 02nd Aug :-
Nifty triggered our short trade and completed 2 targets doing 65 points
For 03rd Aug :-
Sustaining above 17400 enter for 17430 - 17470 - 17570 , SL 17360
Now for this week :
On the upside :
Nifty has to sustain and close above its immediate resistance at 17250 - 17300 to move towards initial targets of 17440 - 17480 .
Closing above 17480 Nifty may move towards next targets of 17600 - 17750 .
On the downside :
Nifty has to sustain and close below its immediate support at 17050 - 17000 to move towards initial targets of 16880 - 16830 .
Closing below 16830 Nifty may move towards next targets of 16710 - 16570 .
So far this week Nifty has made a high of 17390.15 breaking above its weekly immediate resistance zone and also close above it at 17345.45. Now in the coming session Nifty sustaining above 17300 can move towards its initial weekly targets of 17440 - 17480 where we may see profit booking. On the downside Nifty has immediate support at 17200 and breaking and sustaining below it Nifty can correct towards 17100 - 17050.
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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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