Nifty Day Chart Analysis - 25 Aug 2022

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On the Candlestick and Kagi Charts the level of 17490 is an important support, also the Moving Average of 20 periods is at 17484. So, If Nifty gives a breakdown of 17490 then it will test the levels of 16921 (38% of Fibonacci Retracement). The next support is on 16800.
The range of 16920 to 17490 has many gap up openings. The overall setup of charts indicates the nifty will correct from these levels.

Analyse by Using

• Support and Resistance

• Fibonacci Retracement

• Kagi Chart

• Candlestick Chart