Nifty spot chart analysis for 12.10.2022

Nifty is standing inside a moderate resistance zone of 16951 to 17008.

if nifty crosses above 17008 then it may easily cross 17068 and may reach to the level of 17125.

between 17125 to 17182 is a strong resistance zone.

if Nifty crosses over 17125 then it may also cross 17182 and may reach to the level 17238.


If nifty crosses down 16951 then it may also cross 16892 and may take support on 16840.

if nifty crosses down 16840 then it may also cross 16780 and may reach to the level of 16722.

If nifty crosses down 16423. then it may take bounce back from bounce back zone.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 16985 AND REACH TO THE HIGHER LEVELS.