Nifty Outlook for 25th Aug

In the previous session :

Nifty went down by 78 points then went up by 46 points before closing higher by 27 points on Wednesday

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 24th Aug :-

Nifty triggered our short trade and took our stoploss. Post that Nifty traded sideways for the entire session between our short and long trigger range.

For 25th Aug :-

Sustaining above 17660 enter for 17690 - 17725 - 17820 , SL 17620

Sustaining below 17550 enter for 17520 - 17485 - 17390 , SL 17590

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 a move towards 17820 - 17860 . On the upside Nifty has immediate support at 17480 - 17440 and has to break and sustain below it for further correction. 

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours .                              

To receive this post daily in your inbox, kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

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.