Monday 22 August 2022

Nifty Outlook for 23rd Aug

 In the previous session :

Nifty went down by 291 points before closing lower by 268 points on Monday


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 22nd Aug :-

Nifty triggered our short trade with a gap down below our 1st target and fell further by 200+ points . 

For 23rd Aug :-

Sustaining above 17545 enter for 17575 - 17615 - 17715 , SL 17505

Sustaining below 17440 enter for 17405 - 17370 - 17270 , SL 17475


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 .


So far this week Nifty after triggering our weekly short trade has made a low of 17467.35 almost reaching our next weekly short target zone of 17440 - 17340 . Now in the coming session Nifty sustaining below 17520 can move to complete the targets of 17440 - 17340 . On the upside Nifty breaking and sustaining above 17560  has immediate resistance at 17660 - 17690 .

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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