In the previous session:
Nifty went up by 140 points then went down by 75 points before closing lower by 57 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 24th Aug:
Nifty triggered our long trade with a gap up near our last long target and did not give a long trade. Post that Nifty reversed to trigger our short trade and completed 2 targets and more doing 45 points
For 25th Aug:
Sustaining above 19410 enter for 19425 - 19445 - 19490, SL 19395
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 19584.45 breaking above our weekly resistance zone of 19355 - 19380 and almost completed our last weekly long targets till 19530 - 19600
Now in the coming session Nifty has immediate support at 19380 - 19355 and has to hold it to bounce back else breaking and sustaining below it can correct till 19270 - 19240. On the upside Nifty has to break and sustain above 19470 to retest its last weekly long targets of 19530 - 19600
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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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