Nifty spot chart analysis for 12.08.2022

Nifty is standing just below a strong resistance zone of 17684 to 17731.

if nifty moves above 17731 then it may also cross 17780 and may reach to the level of 17829.

between 17829 to 17880 is an Extremely strong resistance.

if nifty crosses over 17880 then it may reach to the level of 17926.

if nifty moves down below 17635 then it may take support on 17586, 17586 is a strong support.

if nifty moves down below 17489 then it may also cross 17535 and may reach to the level of 17489.

if nifty moves down below 17489 then it may also cross 17535 and may reach to the level of 17489.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 17932 AND REACH TO THE HIGHER LEVELS.