Nifty Outlook for 08th Sep

  In the previous session:

Nifty went up by 126 points then went down by 61 points before closing higher by 116 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 07th Sep:

Nifty initially triggered our short trade and took our stoploss. Post that Nifty triggered our long trade and almost completed all targets doing 90 points.

For 08th Sep:

Sustaining above 19755 can move towards 19775 - 19795 - 19845, SL 19735

Sustaining below 19700 can move towards 19680 - 19660 - 19610, SL 19720

In the Previous Week: 

Nifty triggered our weekly long trade above 19335 and completed our initial weekly long targets till 19400 - 19420 with a high of 19458 and then took our stoploss

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 19490 - 19520 to move towards its initial weekly long targets of 19615 - 19635. 

Closing above 19635 Nifty may move towards its last weekly long targets of 19715 - 19800

On the downside:

Nifty has to sustain and close below its weekly support at 19380 - 19350 to move towards its initial weekly short targets of 19255 - 19235

Closing below 19235 Nifty may move towards its last weekly short targets of 19160 - 19070

So far this week Nifty made a high of 19737 after triggering our weekly long trade above 19520 reaching our last weekly long target zone of 19715 - 19800 and closed at 19727.05. Trailing Stoploss for the weekly long trade is now 19615 

Now in the coming session Nifty has immediate resistance at 19775 - 19800. On the downside Nifty has immediate support at 19700 and has to break and sustain below it for a move towards 19660 - 19630. 

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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