Last week, we had highlighted August 12 as a date to watch for a potential trend shift — and the market played out exactly in line. On that day, the index registered its weekly high, followed by a sharp downside move, making it a pivotal session for positional traders.
Price Levels in Action
The precision of our highlighted levels was once again visible on the charts:
24,380 support worked effectively, with the week’s low forming at 24,348.
24,650 zone acted like a magnet on August 12, 13, and 14, with the price repeatedly hovering around it, confirming its significance for the week.
Time Cluster Accuracy
The intraday time clusters also proved their worth, providing traders with high-probability turning points:
Aug 11 (Mon): 9:20 AM day low, 2:50 PM day high — both matched perfectly.
Aug 12 (Tue): 11:00 AM swing low formed, though 1:30 PM saw no major reaction.
Aug 13 (Wed): 12:30 PM swing low, followed by strong upside momentum until 2:00 PM, near our projected 1:30 PM cluster.
Aug 14 (Thu): 10:20 AM day high aligned exactly with our given time.
Once again, these timings demonstrated their precision for intraday traders seeking high-probability entries and exits.
Key Nifty Levels Ahead
Traders should keep these zones in focus as decision points:
Support: 24,538 / 24,480 / 24,443 / 24,380 / 24,331 / 24,142
Resistance: 24,670 / 24,808 / 24,850 / 24,978 / 25,083 / 25,322
Watching price action around these levels will be crucial to gauge reversals or confirm breakouts.
High-Probability Time Clusters (Aug 18–22)
Mon, Aug 18: 9:20 AM, 11:00 AM, 12:20 PM, 2:20 PM
Tue, Aug 19: 9:30 AM, 1:45 PM, 2:30 PM
Wed, Aug 20: 1:30 PM
Thu, Aug 21: 10:45 AM, 11:30 AM, 2:30 PM
Fri, Aug 22: 9:25 AM, 10:20 AM, 11:35 AM, 1:35 PM
Trading Outlook: Aug 18–22
The coming week could witness heightened momentum, with August 21–22 standing out as highly important dates. Traders should be prepared for the possibility of a meaningful reversal or trend shift around this window.
(The author is Director, Wealthview Analytics Pvt Ltd. SEBI Registration – INH000009676)
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)
