In the previous session:
Nifty went up by 40 points then went down by 123 points before closing lower by 93 points on Thursday
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 Aug:
Nifty triggered our long trade and completed just 1 target and took our stoploss. Post that Nifty reversed to trigger our short trade and completed all targets doing 75 points
For 01st Sep:
Sustaining above 19280 enter for 19295 - 19310 - 19360, SL 19260
In the Previous Week:
Nifty triggered our weekly long trade above 19380 and almost completed our last weekly long targets till 19530 - 19600 with a high of 19584.45 doing 200 points
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19305 - 19335 to move towards its initial weekly long targets of 19400 - 19420.
Closing above 19420 Nifty may move towards its last weekly long targets of 19480 - 19540
On the downside:
Nifty has to sustain and close below its weekly support at 19225 - 19200 to move towards its initial weekly short targets of 19130 - 19115
Closing below 19115 Nifty may move towards its last weekly short targets of 19060 - 19000
So far this week Nifty has made a high of 19452.80 breaking above our weekly resistance zone of 19305 - 19335 and completed our initial weekly long targets till 19400 - 19420 and today took our weekly long stoploss and reversed to test our weekly support zone at 19225 - 19200 with a low of 19223.65 and closed at 19253.80
Now in the coming session Nifty has to break and sustain below 19200 for a move towards 19130 - 19115. On the upside Nifty has immediate resistance at 19305 - 19335 which it needs to break and sustain above.
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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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