Support levels:
19,733
19,684
Resistance levels:
19,833
Analysis:
Nifty 50 is currently in an uptrend, with immediate support at 19,733. If this level breaks, then the next support level is at 19,684. On the upside, the immediate resistance is at 19,833. If this level is crossed, then Nifty 50 can move towards 20,000.
Trading strategy:
Upside: If Nifty 50 sustains above 19,833, then traders can go long for a target of 20,000.
Downside: If Nifty 50 breaks below 19,733, then traders can go short for a target of 19,684.
Risk management:
It is important to use stop losses and position sizing when trading Nifty 50. Traders should place a stop loss below the immediate support level if going long, and above the immediate resistance level if going short. Position sizing should be such that the risk of loss on any trade is limited to a small percentage of the trader's total portfolio.
Disclaimer: This is not financial advice. Please do your own research before making any trading decisions.
Please note that the market can be volatile and unpredictable, so it is important to always trade with caution.
19,733
19,684
Resistance levels:
19,833
Analysis:
Nifty 50 is currently in an uptrend, with immediate support at 19,733. If this level breaks, then the next support level is at 19,684. On the upside, the immediate resistance is at 19,833. If this level is crossed, then Nifty 50 can move towards 20,000.
Trading strategy:
Upside: If Nifty 50 sustains above 19,833, then traders can go long for a target of 20,000.
Downside: If Nifty 50 breaks below 19,733, then traders can go short for a target of 19,684.
Risk management:
It is important to use stop losses and position sizing when trading Nifty 50. Traders should place a stop loss below the immediate support level if going long, and above the immediate resistance level if going short. Position sizing should be such that the risk of loss on any trade is limited to a small percentage of the trader's total portfolio.
Disclaimer: This is not financial advice. Please do your own research before making any trading decisions.
Please note that the market can be volatile and unpredictable, so it is important to always trade with caution.