Mentorship InstaView 04 Aug’21: You are 16 going on 17

Aug 3, 2021


Nifty View: “BIG” breakout from the benchmark Nifty index in today’s session. The index finally delivered the much-awaited breakout with which comes positive sentiment and clarity in terms of the underlying immediate direction. There was barely any intraday dip during today’s rally which clearly shows that the bulls have got the contrarian bears trapped and this momentum can very well continue this week. The only caveat is the impending short term topping out price behaviour in the US markets. Nevertheless, let’s enjoy and celebrate the Nifty at a new life-high and make use of the fresh momentum. Of course, the erstwhile resistance zone of (15,900-15,950) acts as the immediate supports now.

Thank you for following my work and please feel free to share your thoughts and suggestions.      
 
Trade Well. Trade Wise.