Nifty Intraday Levels 23/Aug/23

Aug 23, 2023

Good Morning Traders, Guy's yesterday Markets traded range bound and ended almost unchanged amid mixed cues. After the marginal uptick, the Nifty oscillated in a narrow band and finally settled around the day's low to close at 19396.45 levels. (FII) sold shares Rs. 495.17 crore, whereas (DII) Purchased Rs. 533.75 crore worth of stocks on yesterday session. On the technical front, the market is witnessing a non directional activity on the higher side and finding resistance near 19450, while on the lower side the index is regularly taking support near 19375. Any fresh uptrend is possible only after the breakout of 19450, and then nifty could rally til 19500-19550+, On the lower side breakdown of 19375, can take nifty towards 19300-19250 levels.

Important Levels for Nifty-

Support zone 19355-19375
Resistance zone 19430-19450

Buy above 19450, if levels sustains at least for 30 mints
Targets we can see in upside 19524/19603
Keep stop loss at 19369

Sale below 19369, if levels sustains at least for 30 mints
Targets we can see in downside 19299/19242
Keep stop loss at 19450

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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