manavtechresearch

NIFTY TRADE SETUP FOR THE WEEK

Long
NSE:NIFTY   Nifty 50 Index
-INDEX HAS MANAGED TO 11000 MARK ON A WEEKLY BASIS
-11247 IS A CRUCIAL LEVEL FOR THE INDEX
-ONCE THE LEVEL OF 11247 IS CONQUERED NEXT TARGET WOULD BE 11340-11410
-A CROSS ABOVE THAT WILL ALLOW INDEX TO TEST 11500
-MARKET IS GETTING INTO OVERBROUGHT POSTIONS IN SMALLER TIME-FRAME
-ON DAILY CHART RSI TOOK SUPPORT AT LEVELS OF 60 AND NOW IS TRADING AT 71
-INDICATING THAT ITS NOT WILLING TO GO DOWN
-INTEREST OBSERVATION DURING THIS PREVIOUS WEEK WAS INDEX IS TRADING INDEX THE BAR OF 22ND JULY
-INDICATING SOONER OR LATER WE WILL HAVE A INSIDE BAR BREAKOUT
-CRUCIAL SUPPORT PLACED AT 11035
-CRUCIAL RESISTANCE IS PLACED AT 11240


NIFTY RESISTANCE FOR THE DAY
11240-11342-11410
NIFTY SUPPORT FOR THE DAY
11125-11035-10980


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!

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