August 17th Nifty View

Today in the early trading, Nifty Future made a high of 5474 and met with resistance. Thereafter it continued to make lower tops/lower bottoms on the the 30 min chart (though marginally) and in the second half, fell sharply to make a low of 5393.

Now For tomorrow trading, I would continue to suggest that avoid going long as Nifty Future has encountered resistance at 5480 levels on 30 min chart for nearly 6 times.

Short position may be taken below 5400 levels, with stop loss of 5455. At lower levels, Nifty Future will find support at 5363 and 5325.

So trade accordingly.

All the best