Nifty50 Chart Analysis - 20-08-24 Tuesday

NIFTY

Timeframe- 30 min chart
Validity - Current Week

➖ Boring /Dull Move in Last Session, Totally range bound after gapup open.

👉PCR -1.0
👉INDIAVIX - 14.31 (Normal)

🏦 Cash activity
FII- Net SELL (-2667) Cr
DII- Net BUY 1803 Cr

🌐US Markets Last day movement.
DJI:- Bullish by 336+ point.

Nasdaq: Bullish up by 357+points.

#GIFTNIFTY - 40 points up.’

👉NiftySupport 24460,24220,24080.

👉NiftyResistance 24640,24850.

🔹(Same as yesterday )Verdict:- 2 scenarios.

1. Breakout of the channel if the 30-minute candle is above - 24640 then only long side momentum will build up.

2. Reversal from the channel. 24550 range.

Use Appropriate stops to avoid big drawdowns.
Not a buy/sell just for educational purposes.

Keep learning,
Happy trading.