In the previous session :
Nifty went up by 35 points then went down by 245 points before closing lower by 198 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 19th Aug :-
Nifty initially triggered our long trade and completed just 1 target and took our TSL. Post that Nifty reversed to trigger our short trade and completed all targets and more doing 200+ points.
For 22nd Aug :-
Sustaining above 17795 enter for 17820 - 17845 - 17915 , SL 17770
Now for this week :
On the upside :
Nifty has to sustain and close above its immediate resistance at 17820 - 17860 to move towards initial long targets of 17965 - 17990 .
Closing above 17990 Nifty may move towards next long targets of 18080 - 18180.
On the downside :
Nifty has to sustain and close below its immediate support at 17690 - 17660 to move towards initial short targets of 17560 - 17520 .
Closing below 17520 Nifty may move towards next targets of 17440 - 17340 .
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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