In the previous session :
Nifty went up by 41 points then went down by 82 points before closing higher by 9 points on Wednesday
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 10th Aug :-
Nifty triggered our short trade and completed just 1 target doing 40 points
For 11th Aug :-
Sustaining above 17575 enter for 17600 - 17630 - 17710 , SL 17545
Now for this week :
On the upside :
Nifty has to sustain and close above its immediate resistance at 17480 - 17540 to move towards initial targets of 17680 - 17720 .
Closing above 17720 Nifty may move towards next targets of 17830 - 17970 .
On the downside :
Nifty has to sustain and close below its immediate support at 17310 - 17260 to move towards initial targets of 17120 - 17080 .
Closing below 17080 Nifty may move towards next targets of 16960 - 16830 .
So far this week Nifty made a high of 17566.10 breaking above its immediate weekly resistance zone of 17480 - 17540 and closed at 17534.75. Now in the coming session Nifty has to break and sustain above 17540 to move towards its initial weekly long targets of 17680 - 17720 . On the downside Nifty breaking and sustaining below 17430 can move towards its initial weekly support zone of 17310 - 17260.
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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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