Nifty 50 Analysis & Prediction for Monday 5 Aug 2024

Disclaimer: Any of my posts should not be considered as a Buy/ Sell/Hold recommendation. This analysis is for educational and learning purpose only.

I always recommend using Stop Loss and following risk management rules.

Nifty is creating a retracement in a buying trend so

Condition 1- if Market opens and test it's previous resistance and holds that level then I am expecting upmove

Condition 2- If Market opens and retrace little more then also Price can bounce after creating support.

Market can create other conditions also So wait and observe properly.