Nifty Weekly Analysis Aug 7 - 11🔍 Analysis on Nifty for the Upcoming Week 🔮
Aug 7 - Aug 11
The Nifty index seems to exhibit a bullish trend in the long-term & bearish trend in the short-term, according to the market structure.
📈 Key Levels to Monitor:
In the upcoming week, it's important to monitor key levels 19190, 19200, 19235, 19300, 19750, 19800, and 19990.
🔎My outlook:
The outlook for the upcoming week’s trading suggests a non-directional view (Sideways).
📈 Bullish Scenario:
If Nifty breaks out above the significant level of 19800, supported by a strong and clear daily candle, it could indicate a bullish market trend.
📉 Bearish Scenario:
However, if Nifty breaks down below 19190, confirmed by a strong and clear daily candle, it may signal a decline towards the 18890 level.
