Nifty - Intraday Levels for 12 Aug 2022

NSE:NIFTY   Nifty 50 Index
Nifty Levels for Tomorrow..

Sentiment : Negative
Expectation : Bearish Reversal

As expected Nifty tested 17700 level today but couldn't sustain above this level end of the day. Since Monthly resistance is also exist there.

For tomorrow, Nifty aligned with Negative sentiment but Bullish trend. If any Flat or Small gap up open around CPR level - CPR zone or Sell reversal level will be the key resistance for tomorrow. We can look for short entry for the target of 17572.

Nifty may trade in range between PDH & CPR, if any breakout above Sell Reversal level.

Any breakout below 17500 will leads to BEARISH trend in the market. We can expect some consolidation between 17500-17700 before it takes next move.

Refer the chart for detailed Intraday Support and Resistance levels.

Happy Trading!!


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