In the previous session:
Nifty went down by 103 points then went up by 74 points before closing higher by 61 points on Wednesday
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 09th Aug:
Nifty initially triggered our short trade and completed 2 targets doing 60 points and then took our TSL. Post that Nifty reversed and triggered our long trade and completed just 1 target on the long side.
For 10th Aug:
Sustaining above 19675 enter for 19700 - 19730 - 19810, SL 19645
In the Previous Week:
Nifty triggered our short trade and almost touched our last weekly short target zone of 19290 - 19170 with a low of 19296.45
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19590 - 19630 to move towards its initial weekly long targets of 19750 - 19780.
Closing above 19780 Nifty may move towards its last weekly long targets of 19880 - 20000
On the downside:
Nifty has to sustain and close below its weekly support at 19450 - 19400 to move towards initial weekly short targets of 19280 - 19250
Closing below 19250 Nifty may move towards its last weekly short targets of 19150 - 19040
So far this week Nifty has made a low of 19467.50 and a high of 19645.50 breaking its weekly resistance zone of 19590 - 19630 and closed at 19632.55. Now in the coming session Nifty has to break and sustain above 19630 to move towards its initial weekly long targets of 19750 - 19780. On the downside Nifty sustaining below 19520 has immediate support at 19450 - 19400 on dips
In case of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks".
Join our Telegram Channel "simplytradestocks" for live index & stock trading ideas during market hours.
To receive this post daily in your inbox, kindly register by adding your email id in the 'Subscribe to my posts' section on the top right side of the blog.
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
No comments:
Post a Comment