Nifty spot chart analysis for 08.08.2022

Nifty is standing just above a strong support of 17393.

if nifty moves above 17393 then it may also cross 17442 and may reach to the level of 17489.

between 17489 to 17535 is an Extremely strong resistance.

if nifty crosses over 17535 then it may reach to the level of 17586.


if nifty moves down below 17393 then it may take support on 17340, 17340 is a strong support.


if nifty moves down below 17340 then it may also cross 17292 and may reach to the level of 17238.


if nifty moves down below 17340 then it may also cross 17292 and may reach to the level of 17238.

If nifty crosses down 17283. then it may take bounce back from bounce back zone.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 17627 AND REACH TO THE HIGHER LEVELS.