TraderRahulPal

Nifty intraday levels 25/Aug/23

NSE:NIFTY   Nifty 50 Index
Good morning Traders,
What was the session for yesterday in nIfty and other indices as well, Nifty opened at 19535 and climbed up to 19584 but bears turned active in late in the morning and taken nifty down towards 19369. Nifty had lost almost 200 points from day's high..Whatever opening gap was filled completely in same day. In daily Timeframe i have seen long bearish engulfing candle which is sign of bearish strengthen in Nifty.
According to open Interest highest call writing seen at 19400 strike followed by 19500 and 19600 strike. These levels can act key hurdle for nifty in near term.


Important levels for nifty:-

Support Zone 19200-19250
Resistance Zone 19400-19450

Buy only above 19384, if levels sustains at least for 30 Mints
Targets we can see in upside 19458/19553
Keep stop loss at 19301

Sale only below 19301, if level sustains at least for 30 Mints.
Targets we can see in downside 19258/19203
Keep stop loss at 19384


Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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Best Regards,
Rahul Pal
(Full Time Trader & Investor)

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