In the previous session :
Nifty went up by 184 points before closing higher by 124 points on Thursday
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 11th Aug :-
Nifty opened above our last long target and did not give any trade.
For 12th Aug :-
Sustaining above 17690 enter for 17710 - 17735 - 17795 , SL 17665
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 17719.30 completing our initial weekly long targets of 17680 - 17720 and closed at 17659. Now in the coming session Nifty has to break and sustain above 17720 to move towards its next weekly long targets of 17830 - 17970 . On the downside Nifty has immediate support at 17540 - 17480 zone .
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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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