Nifty is likely to remain rangebound till 24th of August with an upper limit of 17750. On and beyond 24th August, Nifty has a chance of crossing 17720, when we may again see a break out. If it remains in consolidation, there are many supports in between. However, the strongest of the support for the year will be 14,450, a bottom, which we may see by early November 2022.
Comment:
We will have to wait and see if the Nifty breakout sustains. Nifty immediate support will come at 17720 and if it does not hold the next support will be at 17550.