In the previous session :
Nifty went down by 61 points then went up 65 points before closing higher by 39 points on Friday
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 12th Aug :-
Nifty initially triggered our short trade and did 30 points and took our TSL. Post that Nifty triggered our long trade and again did 35 points.
For 16th Aug :-
Sustaining above 17730 enter for 17745 - 17755 - 17800 , SL 17705
Now for this week :
On the upside :
Nifty has to sustain and close above its immediate resistance at 17740 - 17770 to move towards initial targets of 17830 - 17850 .
Closing above 17850 Nifty may move towards next targets of 17910 - 17970 .
On the downside :
Nifty has to sustain and close below its immediate support at 17660 - 17630 to move towards initial targets of 17560 - 17540 .
Closing below 17540 Nifty may move towards next targets of 17490 - 17420 .
Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .
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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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