In the previous session :
Nifty went up by 141 points before closing higher by 127 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 16th Aug :-
Nifty triggered our long trade with a gap up near our last target and did not give a trade.
For 17th Aug :-
Sustaining above 17845 enter for 17860 - 17875 - 17910 , SL 17830
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 .
So far this week Nifty made a high of 17839.10 testing our initial weekly long targets and closed at 17825.25 . Now in the coming session Nifty has to break and sustain above 17850 for a move towards the next weekly long targets of 17910 - 17970. On the downside Nifty has immediate support at 17740 and has to break and sustain below it for a move towards 17660 - 17630 where it has its weekly support.
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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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