Nifty Trading Signal (12 August 2020)

It’s 12 August 2020, Nifty 50 closed at a price of 11308. Today it made high at 11322 and low at 11242.

There is an update in nifty signal on Daily (D) chart. Resistance is at 11374 and support is at 11238.

Between 11374 and 11238, the market may remain sideways.

Below 11238 will be a sign of bearish trend and above 11374 level it will be a bullish trend. While trading keep an eye on both these levels when buying or selling nifty futures or options call or put for long term view.

On hourly chart (H1), resistance is at 11326 and support is at 11266 (Short term Trend)

Nifty is trading live at 11125 levels on 24 July 2020, when writing this post. Nifty signal has been updated both on Hourly (H1) chart as well as on Daily (D1) Chart.

In short term, the resistance has moved from 11017 to 11178 whereas the support has been moved from 10960 to 11130. Keep in mind these levels while trading Nifty for short term and buy or sell accordingly.

In long term, It’s daily resistance has moved from 10850 levels (that was of SGX Levels) to 11240 and daily support has been moved from 10625 (SGX Levels) to 11056 (Nifty Levels).

Go for short if it remains below 11056 and go long only if it cross above 11240 levels for longer time frames on weekly or monthly basis.

There has been an update in Nifty Trading Signal. It’s 20 July 2020, Nifty Index is trading at 10978. On hourly basis Nifty resistance is at 11017 whereas it’s support has also been updated at 10960.

In short term, one can go with the trade as long as it trades above 11017 and go short below 10960. For swing traders, one can buy on 10960 and go for sell on 11017.

Nifty daily chart signal is continued to be remain the same as SGX Levels.

On 10 July 2020, Nifty closed at 10778. On the daily chart, Nifty is yet to make a trading signal after providing trading signal on 15 May 2020. At that time, the two levels worth considering was 9281 (Resistance) and 9050 (Support).

As we all know, nifty tends to move according to actions in SGX Nifty, during this time SGX Nifty trading signal was in upward trend, so the nifty moved along with it.

As a trader, we should remain cautious unless SGX Nifty trades above 10850 levels. So Nifty trading signal suggests that it may test the levels of 9281 & 9050 until any upward signal comes in SGX Nifty.

On hourly chart, there are two levels to consider – resistance is at 10755 and support is 10713. In the short term, The trend looks bearish below 10713 and bullish till it holds 10755.

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