In the previous session:
Nifty went down by 48 points then went up by 126 points before closing higher by 107 points on Monday
Nifty made a new lifetime high of 19991.85 on 20th Jul 2023 from the lows of 7511.10 made on 24th March 2020
On 31st Jul:
Nifty triggered our long trade and completed 2 targets and more doing 80 points
For 01st Aug:
Sustaining above 19800 enter for 19825 - 19860 - 19940, SL 19765
In the Previous Week:
Nifty traded mostly sideways with a negative bias between our weekly resistance and support zone indicating indecisiveness in further direction
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19715 - 19760 to move towards its initial weekly long targets of 19880 - 19910.
Closing above 19910 Nifty may move towards its last weekly long targets of 20010 - 20120
On the downside:
Nifty has to sustain and close below its weekly support at 19575 - 19530 to move towards initial weekly short targets of 19415 - 19380
Closing below 19380 Nifty may move towards its last weekly short targets of 19290 - 19170
So far this week Nifty made a high of 19772.75 breaking above our weekly resistance zone of 19715 - 19760 and closed at 19753.80 within it.
Now in the coming session Nifty has to break and sustain above 19760 to move towards its initial weekly long targets of 19880 - 19910. On the downside Nifty has immediate support at 19575 - 19530.
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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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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