TheNoobDayTrader

Nifty Review and Analysis for 10th August 2021

NSE:NIFTY   Nifty 50 Index
Nifty has been trading between 16200 to 16300 from last 4 trading days. On 9th August it came for selling first from 15300 to 16236 then 16265 to 16175. As I said earlier selling is expected below 16300 and below 16236 Nifty can come up to 16145 and on 9th august it came to 16175, 30 points difference.

Earlier I said that the Idea Vodafone news can affect the market but we haven't seen any movement as expected. So what happened? The day Idea Vodafone news came in, the same day or next day there was a news that Govt . of India decided to abolish Retrospective tax. If you want to know more about that just search and read.

For now resistance for Nifty is 16250, 16300 and 16350.
Support for Nifty is 16050, 16145 and 16200.
Look for these levels for 10th August 2021.

At the time of publishing this SGX Nifty is trading at 16290. Support for SGX Nifty is 16200, 16100 and 15950.
US market is Negative and rest global market is mixed.

Do your own analysis before taking any trade and trade with SL. Thank you.
Comment: In NSE 1208 stocks declined only 559 stock in advance at 12:12 pm, still Nifty holding upside. Something is very fishy.