Nifty: Levels & Strategy to trade for the week 05-Aug - 09-Aug

Nifty (Closing Price 10997)

- Nifty is near support zone

- In the last 2 days we have seen some buying emerge especially at lower levels.

- Nifty needs to hold on to 10940-10960 odd levels on closing basis

- The yellow channel has played a major role in the past 1 year

- can be seen in our previous post

https://in.tradingview.com/chart/NIFTY/BHx548y6-NIFTY-Demystifying-the-450-point-rally-in-a-week/


- Holding 10950 Nifty can try to jump up to 11240 - 11256 / 11305 / 11422
SL 10880

- Closing below 11950 will open up doors for downside target of 11760 / 11620 / 11496
SL 11030

Take care & safe trading...!!!