In the previous session:
Nifty went up by 36 points then went down by 96 points before closing lower by 13 points on Friday
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 28th Jul:
Nifty triggered our short trade and almost completed 2 targets doing 50 points
For 31st Jul:
Sustaining above 19690 enter for 19715 - 19745 - 19825, SL 19660
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
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
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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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