Nifty50 : 24 August Levels and Trade Plan | Bulls seem strong

2023年8月23日

Hello traders,
Post market analysis for 23 August:
today was a good day for Bulls in the market. After testing 380 support zone for the third day in a row, and good accumulation at that level, market was able to claim 19450 and touched 19472.

If we look at Daily chart, we can see three consecutive HH & HL.

Amidst traders anticipating a Bearish move, market is actually moving up!

Trade plan for 24 August:

Case1: In case market crosses or open above 482, it will be a no brainer to keep a long position.
targets TP1: 19558 and TP2:19622 SL: 5 min close below 460.

Case2: Market opens in the last session's range. Will remain cash.

I will keep Bullish stance on Nifty50 as long as we are above 380-360 zone, both; intraday and swing.

Thanks for reading, Have a great day!

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Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.