Nifty spot chart analysis for 21.07.2022

Nifty is standing below strong resistance of 16543.

Nifty is standing below strong resistance of 16543.

between 16612 to 16668 is an Extremely strong resistance.

if nifty crosses over 16668 then it may also cross 16722 and may reach to the level of 16780.
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if nifty moves down below 16482 then it may take support on 16423, 16423 is a strong support.

if nifty moves down below 16482 then it may take support on 16423, 16423 is a strong support.

If nifty crosses down 16320. then it may take bounce back from bounce back zone.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 16840 AND REACH TO THE HIGHER LEVELS.