In the previous session :
Nifty went down by 145 points before closing higher by 86 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 23rd Aug :-
Nifty triggered our short trade with a gap down below our 2nd target and did not give a chance to trade .
For 24th Aug :-
Sustaining above 17630 enter for 17660 - 17700 - 17790 , SL 17595
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 17345.20 completing all our weekly short targets till 17440 - 17340 below 17660 . Now in the coming session Nifty has immediate resistance at 17660 - 17690 which it needs to break and sustain above for further gains . On the upside Nifty has immediate support at 17440 - 17340 and has to break and sustain below it for further correction.
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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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