Hello friends and Traders in this post we will discuss about NIfty and banknifty levels for tomorrow with Technical analysis and that is Based on Purely price action .
#Nifty has strong support near around 16350-16400 this 50 points zone should hold for tomorrow market because this 50 points zone has given market a good resistance so now it will act as support .
#points to be remember -if resitance breaks so now it acts like as a support now .
As you can clearly check in the above image NIfty is trading Near its support area so which levles we need to follow for tomorrow monday 23 august 2021.
Scenario -1: If Nifty holds 16350 for some time it may give good bounce so You can take a small SL and you can buy near 16350.
Buy near 16350-16370 target near 16450 – 16500
Note : You can wait till 16300 in buying side means you can take SL near 16300.
Scenario -2: If Nifty not holds 16300 you may see a major downfall till 16200-16150 .
Sell Below or Near 16300 target 16200-16150
Scenario -3: If NIfty gapped up tomorrow so don’t enter at upper levels, once nifty gives some fall so you may buy near 16350-16370 don’t buy at the upper side.
This Whole Analysis Based on Mt4 Ai based software You can Read more below about this .
Disclaimer : This analysis is totally based on my knowledge and my experience it may give you loss or profit so kindly contact your financial advisor before taking any trade . if you will losse i will not responsible for this .
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