Nifty spot chart analysis for 05.08.2022

Nifty is standing just below a strong resistance of 17393.

if nifty crosses above 17393 then it may also cross 17442 and may reach to the level of 17489.

between 17489 to 17535 is an Extremely strong resistance.

if nifty crosses over 17535 then it may reach to the level of 17586.


if nifty moves down below 17340 then it may also cross 17292 and may reach to the level of 17238.


if nifty moves down below 17238 then it may also cross 17182 and may reach to the level of 17125.


If nifty crosses down 17125. then it may take bounce back from bounce back zone.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 17586 AND REACH TO THE HIGHER LEVELS.