Deep Analysis of Nifty for 28th July 2022

Deep Analysis of Nifty for 28th July 2022 is More Optimistic for Profits Than Ever.

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1) Deep Analysis of Nifty for 28th July 2022:

 

1. In yesterday’s Nifty Trend For Wednesday analysis, I mentioned that the losing streak may turn positive. So did it happen? Nifty turned so positive that there was no stopping the markets. This is SCIENCE. This is Technical Analysis.
2. We are again net positive and may move up to 16796 levels.
3. World markets support the move, as they have to move up together.
4. Now that we know the Fibonacci Retracement level 16417 levels are super support, we’ll hold on to it.
5. The directional movement has retraced from the highs and is now at a support level, so more positive boost for Nifty.

 

2) SGX Nifty Trend for Today on July 28, 2022:

Today on 28th July 2022 SGX Nifty is showing a 101 Point HIGHER move at around 7:23 AM when I am writing this article.

SGX Nifty Trend on Live Chart denotes that the Indian Markets will react POSITIVE.

So Indian markets especially Nifty Trend Today would have a probably POSITIVE start.

 

3) World Market Analysis for 28 JULY 2022:

S&P 500: 102.56 (+2.62%)
NASDAQ: 514.27 (+4.26%)
Dow Jones: 436.37 (+1.37%)
Nikkei: 27.26 (+0.1%)

World markets are cheering support for Nifty and beginning a new level of Bull Run from here. US markets show the highest gains pushing the world markets further UP.

 

4) Nifty Supports and Resistances:

Nifty Supports: 16600, 16514, 16500, 16420

Nifty Resistances: 16695, 16700, 16766, 16796, 16800
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5) Deep Analysis of Nifty for 28th July 2022 Conclusion:

1. We now have deep support from world markets which help scale Indices higher.
2. Deep support from technical analysis proves a point that highs are inevitable today.
3. Mind you, not all the highs stay higher, there is a possibility once we hit 16766 levels, we may see negativity.
4. Its also proven that directional movement support and resistance matter a lot for Nifty. Since the directional movement indicator is at support, we will definitely see a positive move.
5. Good support always drives the market. 16420 levels are such an inspiration. Just like chili powder doesn’t have to be inside the nose to be hot, support is not required to be touched to show support.
6. This drives the market hotter and more money flows and extends the rally.

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Considering the trends globally and Technical Analysis Nifty Trend Today is slightly POSITIVE.

 

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