Nifty Blog by CA. Sachin Aggarwal

 

 

Dated :- 09.08. 2020                                 NIFTY SPOT : 11214.05

                                                                                                         

Hi Readers

Nifty has rebounded from the low of 10882 lower to our make or break level of 10950 mentioned in my previous blog.

 

Nifty made a low of 10882 and then rebounded to close at 11214.

 

Still below our level of 11220.

 

Now What :-

Now Nifty and Bank Nifty is again at crucial juncture.

They both are neither going up nor coming down decisively.

 

But looking at charts I expect that the coming week would be a full body red or green candle with tradable move on either side.

The key will be with Bank Nifty.

Bank Nifty close Below 21498 it is bearish and close above 21916 it is bullish.

 

And for Nifty also the same is expected.

This week will give move on one side.

Thus the movement will be decided during the week itself.

 

On the downside 11150 and on the upside 11296 will work as important support and resistance levels.

 

Trade accordingly.

 

 

Note - ALL THE LEVELS OF NIFTY ARE of SPOT ALWAYS.

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