Let’s for a minute forget what happened Friday. But a mystery unblocked is if Nifty Fall a Relief or a Long Trend.
Profit booking is good in the market. But also Mr. Warren Buffett mentions:
Be Fearful when the Market is Greedy and Be Greedy when the market is fearful.
A mighty richest man in the world is worth this advice and you and I are worthy to take this advice.
Nifty Fall a Relief or a Long Trend on 22nd Aug 22?
- Many factors are against the market, like the huge resistance at 17950 levels.
- Directional Movement Indicator is retracing down, though it’s at the support, we will see a support break today.
- We did retrace before reaching 18112 levels, which is the top we had plotted as per Fib Retracement meaning bears in control.
- Fall on Friday created a Bearish engulfing candle which is a huge bearish sign.
- Global markets are tumbling which means further fall today.
2) SGX Nifty Trend for Today on 22nd Aug 2022:
Today on 22nd August 2022 SGX Nifty is showing a 68 Point LOWER move at around 7:53 AM when I am writing this article.
SGX Nifty Trend on Live Chart denotes that the Indian Markets will react NEGATIVE.
So Indian markets especially Nifty Trend Today would have a NEGATIVE start.
3) World Market Analysis for Aug 22, 2022:
S&P 500: 55.24 (-1.29%)
NASDAQ: 263.09 (-1.95)
Dow Jones: 292.3 (-0.86%)
Nikkei: 122.86 (-0.42%)
World markets are tumbling and face a fall all over.
A sure sign when markets reach the highest levels in Technical Charts.
4) Nifty Supports and Resistances:
Nifty Supports: 17700, 17639, 17600, 17595, 17566, 17500
Nifty Resistances: 17794, 17842
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5) Nifty Fall a Relief or a Long Trend on 22nd Aug 22 Conclusion:
- Nifty fall shows that technical analysis is a sign of reversal.
- Global markets are also supportive of the fall, a sure sign of technical analysis highs.
- if we see a continuation in the negativity today, it’s a sure sign of fall at least till 16857 levels.
- Bollinger bands have opened its mouth very wide, when the crocodile opens its mouth very wide, its pressure of closing is very high!
- Resistance is less and support is huge meaning the greatness of the market is still ready to unfurl.
All in all, supports are all over and resistance is nearly low.
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Considering the trends globally and Technical Analysis Nifty Trend Today is NEGATIVE.
Please let me know your thoughts about today’s Nifty Fall a Relief or a Trend Reversal in the COMMENTS below.
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