In the previous session:
Nifty went down by 170 points then went up by 37 points before closing higher by 6 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 14th Aug:
Nifty triggered our short trade and completed all targets doing 125 points.
For 16th Aug:
Sustaining above 19475 enter for 19500 - 19530 - 19600, SL 19445
In the Previous Week:
Nifty traded sideways between our long and short trigger zone
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19495 - 19535 to move towards its initial weekly long targets of 19650 - 19680.
Closing above 19680 Nifty may move towards its last weekly long targets of 19775 - 19885
On the downside:
Nifty has to sustain and close below its weekly support at 19360 - 19320 to move towards initial weekly short targets of 19205 - 19175
Closing below 19175 Nifty may move towards its last weekly short targets of 19080 - 18980
So far this week Nifty has made a low of 19257.90 breaking below our weekly support zone and closed at 19434.55 well above it.
Now in the coming session Nifty has immediate resistance at 19495 - 19535 and has to break and close above it for a further move towards 19650 - 19680. On the downside Nifty has immediate support at 19360 - 19320 and has to close below it for a further move towards 19205 - 19175
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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 decisionsNifty
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