Nifty Next Week: Market Outlook 8th to 12 August 2022
Market Outlook 8th to 12 August 2022.
As Nifty hourly chart continues to move in the channel which started around 13th June 2022. Recently it hit the channel top and faced resistance 17490 and faced channel top resistance since. 17161 payed as a major support during the news surrounding China-Taiwan crisis and should be looked at as a pivotal support for now. Other major Supports and resistance for NIFTY for the next week that is 8th to 12 August 2022 will be:
NIFTY Supports: 17345, 17161, 17023 and finally the range between 16535 to 16735.
Nifty Resistances: 17414, 17489, 17576 and finally Channel top resistance which can be anywhere between 17576 to 17691.
As Nifty hourly chart continues to move in the channel which started around 13th June 2022. Recently it hit the channel top and faced resistance 17490 and faced channel top resistance since. 17161 payed as a major support during the news surrounding China-Taiwan crisis and should be looked at as a pivotal support for now. Other major Supports and resistance for NIFTY for the next week that is 8th to 12 August 2022 will be:
NIFTY Supports: 17345, 17161, 17023 and finally the range between 16535 to 16735.
Nifty Resistances: 17414, 17489, 17576 and finally Channel top resistance which can be anywhere between 17576 to 17691.
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