Indian Nifty Chart Analysis for 20 July 2022 shows you are on the verge of profits.
Though SGX Nifty is 175 points in POSITIVE, it’s not going to be a straight UPMOVE like Yesterday’s Technical Analysis.
Yesterday Indian Nifty Chart Analysis showed a straight move up though markets opened a gap down.
Today’s ball game is a bit different.
Indian Nifty Chart Analysis for 20 July 2022:
- Now Bulls and Bears are straight ahead going to lock horns for market share.
- 16410 will act as resistance, though we may open GAP UP in today’s opening.
- It’s not a possible straight market like I mentioned in the Nifty 50 Analysis for 19 Jul 2022 to Beat Market Gurus.
- Big boys are going to look for booking profits at the highest levels now.
- Small guys would like to ride the highs and buy more, which will prove to be a BLUNDER.
2) SGX Nifty Trend for Today on July 20, 2022:
Today on 20th July 2022 SGX Nifty is showing 187 Points HIGHER move at around 8:02 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 20 JULY 2022:
S&P 500: 105.83 (+2.76%)
NASDAQ: +371.92 (+3.13%)
Dow Jones: +754.44 (+2.43%)
Nikkei: +637.86 (+2.37%)
World markets are master blaster positive in excess of 2.5% in previous sessions, which denotes HUGE Positivity denoting a positive UPmove during and after the opening of the markets.
4) Nifty Supports and Resistances:
Nifty Supports: 16183, 16200, 16275, 16300
Nifty Resistances: 16400, 16410, 16492, 16514, 16586.
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5) Indian Nifty Chart Analysis Conclusion:
- US Markets are Up and Above 2.5% in yesterday’s session, denoting a huge +VE
- SGX Nifty is 187 points higher denoting a HUGE GAPUP Opening.
- Directional Movement Indicator has entered a zone where Highs would be cut off with a Profit Booking!
- Though Markets are positive and supportive, we may shave some highs off due to the Bollinger resistance.
- We’ll see an opening above 16400 in today’s session, and move towards 16500, but won’t sustain by the end of the day, as per the charts.
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Considering the trends globally and Technical Analysis Nifty Trend Today is hugely POSITIVE.
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