NIFTY 01 SEPTEMBER 2023 : If closing goes below 19250 then we have good chance of hitting levels of 18800 in next 20 trading sessions.

 

The chart speaks louder than the words. So far, we have seen a 23.60% retracement of the whole recent rally. More than that, we saw multiple hits of support which made the Nifty chart weaker. If it breaks 19250 on a closing basis then we can expect the next good support at 18800 levels which is going to be my target. 

September may not be good for investors, although this will provide a better entry point for them if they book stocks at a higher price.