Nifty this Week: It's Gonna get Bumpy - 16 August'24

Benchmark Nifty index managed a bounce back last week with a gain of 0.71%, most of which came from Friday's almost 400 points gainer. Recently, we've had a sharp move down, after which the index has managed to hold its ground. Long-term charts are still bullish, so investors should not be too worried. It's the short-term charts which are confused in terms of trend and momentum. That's why I sense that going forward into next week's trade, we will face intra-day volatility. On the downside, if last week's low of 24,099 gets broken, that will inject fresh selling momentum. In such a case, avoid building long positions in the fall. On the upside, the index is trying to close the falling gap on the daily charts, so resistance to keep in mind is at 24,700.
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[@rockydodani]

Superb Video Sir

[@AbhijitPaulTrader]

Thank you

[@Rahulmathsclasses]

Great 👍 sir good morning

[@AbhijitPaulTrader]

Good morning

[@aritraghosh6121]

Good morning sir.. great content..

[@AbhijitPaulTrader]

Good Morning ... Thank you