Monday 29 August 2022

Nifty Outlook for 30th Aug

 In the previous session :

Nifty went down by 392 points before closing lower by 246 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 29th Aug :-

Nifty triggered our short trade with a big gap down opening below our last target and did not give a entry 

For 30th Aug :-

Sustaining above 17380 enter for 17410 - 17440 - 17530 , SL 17330

Sustaining below 17260 enter for 17230 - 17190 - 17100 , SL 17300


Now for this week :

On the upside :

Nifty has to sustain and close above its immediate resistance at 17640 - 17690 to move towards initial long targets of 17830 - 17870 . 

Closing above 17870 Nifty may move towards next long targets of 17985 - 18115

On the downside :

Nifty has to sustain and close below its immediate support at 17475 - 17425 to move towards initial short targets of 17285 - 17250 . 

Closing below 17250 Nifty may move towards next targets of 17130 - 17000 .

So far this week Nifty has made a low of 17166.20 completing our initial weekly short targets and almost reaching our last target zone of 17130 - 17000 and closed at 17312.90. Now in the coming session Nifty has immediate resistance at 17425 - 17475 and has to break and sustain above it for a further upmove. On the downside Nifty breaking and sustaining below 17250 can move towards 17130 - 17000.


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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