INTRADAY Trade Setup For 08/08/2023

Aug 7, 2023

NIFTY has made a W pattern with retest on Inverted Head And Shoulder Pattern thus the NIFTY is very close to it's Trendline it may continue the Downtrend with respect by following the trendline or may give a breakout from it's trendline, there are some important level given below:

R1 = 19636.30
R2 = 19708.05
R3 = 19773.25
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S1 = 19568.35
S2 = 19514.25
S3 = 19426.70

If NIFTY sustains above 19650 level in the first half then we can go for long or else we can go for short with a retest of the price level with respect to trendline