A great fight between bulls and bears shows Nifty Levels of Highs for 3rd August reveals great Fighting Spirit.
In a fight club, we see Bulls and Bears running a Tug of War which is taking a new route.
One of the Hands is starting to OVERPOWER the market.
1) Nifty Levels of Highs or Lows for 3rd August 2022?
- It’s so hard to maintain composure and hold onto the levels of highs. This is a sign of breaking the resistance.
- Though the market opened around 17310 and went down till 17215, BUT, went up to 17390 levels which is commendable.
- It’s very hard not to forget the highs of Bollinger bands where Nifty is positioned.
- The directional movement indicator is showing a sure sign of reversal from the highs.
- Resistance is at the brink of hanging the head of Nifty with its resistance at 17377 because we saw a sure reversal from 17390 levels.
2) SGX Nifty Trend for Today on 3rd Aug 2022:
Today on 3rd August 2022 SGX Nifty is showing a 43 Point HIGHER move at around 8:16 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 Aug 3, 2022:
S&P 500: 27.44 (-0.67%)
NASDAQ: 39.18 (-0.3%)
Dow Jones: 402.23 (-1.3%)
Nikkei: 146.26 (+0.53%)
Day before Yesterday, we saw lesser negativity by US markets and SGX saw 90-point negativity. Yesterday we see higher negativity in the US market. Today we see positivity in SGX and Nikkei is up by 0.5%.
4) Nifty Supports and Resistances:
Nifty Supports: 17223, 17132, 17000, 16979, 16926
Nifty Resistances: 17377, 17400
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5) Nifty Levels of Highs or Lows for 3rd August 2022 Conclusion:
- Nifty shows sure signs of resistance yet persist.
- Resistance plays its cards at 17377 levels and still holds a level of hanging sword above the head.
- The directional movement indicator is showing signs of reversal from the resistance.
- Yet bulls are kinda holding to their position and that’s great news of breaking the barrier of resistance.
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Considering the trends globally and Technical Analysis Nifty Trend Today is POSITIVE.
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