Nifty Sector Analysis for 12 August 2022 showcases a “Never Give Up” attitude of Nifty and its core strength.
We are astounded by the sheer strength that Nifty is showcasing right now!
1) Nifty Sector Analysis for 12 August 2022:
- Bollinger Bands prove they are expanding, which is a very good sign of the Bull Market.
- Fibonacci Retracement resistances are wearing out, 2nd sign of a Bull Market.
- Directional Movement indicator has started moving up, though the market saw dips on both days from the start, 3rd sign of Bull Market.
- US Markets are not dipping hugely, 4th sign of a Bull Market.
- But the Last 2 days were a dip when we do the Nifty Sector Analysis. That’s a sign of Trend reversal in the market.
- Touching the Bollinger band is a sign of resistance and Nifty is on the verge of Bollinger resistance.
2) SGX Nifty Trend for Today on 12th Aug 2022:
Today on 12th August 2022 SGX Nifty is showing an 8 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 slightly POSITIVE.
So Indian markets especially Nifty Trend Today would have a probably POSITIVE start.
3) World Market Analysis for Aug 12, 2022:
S&P 500: 2.95 (-0.07%)
NASDAQ: 86.33 (-0.65%)
Dow Jones: 27.16 (+0.08%)
Nikkei: 660.68 (+2.37%)
The whole world markets are positive and supportive of the market move.
4) Nifty Supports and Resistances:
Nifty Supports: 17600, 17595, 17327, 17400
Nifty Resistances: 17703, 17842
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5) Nifty Sector Analysis for 12 August 2022 Conclusion:
- The nifty sector as a whole has never been so confident in moving up.
- Japan is up 2.6% which is cheering SGX too.
- US markets are supportive of not falling and showing positive support.
- China’s aggressive territory gobbling strategy is imperative of negativity, but for now, markets are cheering.
- Though markets open higher they close lower, which is a sign of trend reversal.
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Considering the trends globally and Technical Analysis Nifty Trend Today is POSITIVE.
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