Nifty Outlook for 26th Aug

 In the previous session :

Nifty went up by 121 points then went down by 117 points before closing lower by 82 points on Thursday

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 25th Aug :-

Nifty initially triggered our long trade and completed 2 targets doing 65 points and then took our TSL. Post that Nifty reversed to trigger our short trade and again completed 2 targets doing 65 points . 

For 26th Aug :-

Sustaining above 17575 enter for 17605 - 17640 - 17730 , SL 17535

Sustaining below 17470 enter for 17440 - 17400 - 17320 , SL 17510

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 . Post that Nifty bounced back to today make a high of 17726.50 . Now in the coming session Nifty has immediate resistance at 17560 which it needs to break and sustain above for a move towards 17660 - 17690. On the downside Nifty breaking and sustaining below 17520 has immediate support at 17440 - 17400 . 

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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.