In the previous session:
Nifty went down by 138 points before closing lower by 99 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 17th Aug:
Nifty triggered our short trade and completed 2 targets doing 50 points.
For 18th Aug:
Sustaining above 19400 enter for 19415 - 19440 - 19490, SL 19375
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 bounced back till 19482.75 nearing its weekly resistance zone and closed today at 19365.25 near the weekly support zone
Now in the coming session Nifty has immediate resistance at 19495 - 19535 and has to break and sustain / close above it for a further move towards 19650 - 19680. On the downside Nifty has immediate support at 19360 - 19320 and has to sustain 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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