Jagadheesh_JP

NIFTY INTRADAY LEVELS FOR 04/08/2023

Jagadheesh_JP Updated   
NSE:NIFTY   Nifty 50 Index
BUY ABOVE - 19420
SL - 19380
TARGETS - 19470,19520,19560

SELL BELOW - 19350
SL - 19380
TARGETS - 19300,19230,19160

Previous Day High - 19537
Previous Day Low - 19296


I am sharing NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.

Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.

Please NOTE: this levels are for intraday trading only.

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Comment:
NIFTY - In the last 3 days we have seen a continuous fall in the market, today i am expecting a reversal in the market because the market doesn't give the same movement which was happened recently, so if NIFTY opens flat and moves down PDL will act as support if NIFTY takes a license and moves upside and the n breaks the trend line we can expect an upside movement till 19700. if NIFTY opens the gap up and comes down, sellers at the bottom will exit so after a small downside move, the market can make a upside move from the trend line support trapping sellers. On one condition we can plan to sell on raise today, if NIFTY continuously makes an upside movement till 0.618 levels of FIBO, sellers at the top will try to exit so there will be no recent stop loss, so NIFTY might reverse from 0.618 levels to hunt buyers stop losses, at the time movement also will fast so we can Plan for a Put option trade.
Comment:
NIFY Opens 81.15(0.42%) GapUp
Opening Price is 19462.80
Comment:
Watch the levels 19500 & 19430

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