In the previous session:
Nifty went down by 13 points then went up by 115 points before closing higher by 83 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 21st Aug:
Nifty triggered our long trade and completed all targets doing 85 points.
For 22nd Aug:
Sustaining above 19420 enter for 19435 - 19455 - 19500, SL 19400
In the Previous Week:
Nifty mostly traded between our long and short trigger levels
Now for this week:
On the upside:
Nifty has to sustain and close above its weekly resistance at 19355 - 19380 to move towards its initial weekly long targets of 19450 - 19470.
Closing above 19470 Nifty may move towards its last weekly long targets of 19530 - 19600
On the downside:
Nifty has to sustain and close below its weekly support at 19270 - 19240 to move towards its initial weekly short targets of 19170 - 19150
Closing below 19150 Nifty may move towards its last weekly short targets of 19090 - 19030
So far this week Nifty has made a high of 19425.95 breaking above our weekly resistance zone of 19355 - 19380 and closed at 19393.60.
Now in the coming session Nifty has immediate support at 19270 - 19240 and has to hold it to bounce back. On the upside Nifty sustaining above 19380 can move towards 19450 - 19470 to complete its initial weekly long targets. Stoploss for the weekly long trade triggered is 19330 on closing basis.
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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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