Nifty Outlook for 26th Jul

  In the previous session:

Nifty went up by 57 points then went down by 56 points before closing higher by 8 points on Tuesday 

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 25th Jul:

Nifty traded sideways between our long and short trigger levels and did not give a trade

For 26th Jul:

Sustaining above 19725 enter for 19750 - 19785 - 19870, SL 19695

Sustaining below 19635 enter for 19610 - 19575 - 19490, SL 19665

In the Previous Week: 

Nifty triggered our long trade on closing above 19655 and completed all our weekly long targets till 19850 - 19940 with a high of 19981.85

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19815 - 19865 to move towards its initial weekly long targets of 19990 - 20020. 

Closing above 20020 Nifty may move towards its last weekly long targets of 20120 - 20240

On the downside:

Nifty has to sustain and close below its weekly support at 19675 - 19625 to move towards initial weekly short targets of 19500 - 19470

Closing below 19470 Nifty may move towards its last weekly short targets of 19360 - 19250

So far this week Bank Nifty has made a low of 19615.95 breaking its weekly support zone of 19675 - 19625 but failed to confirm a short trade and closed at 19680.60 .

Now in the coming sessions Bank Nifty has to sustain and close below 19625 to move towards 19500 - 19470. On the upside Nifty has immediate resistance at 19815 - 19865 where it may face some resistance and has to sustain or close above 19865 to move towards 19990 - 20020.

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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