Nifty spot chart analysis for 27.07.2022

Nifty is standing just above a strong support of 16482.

if nifty moves above from where it left off then it may also cross 16543 and may reach to the level of 16612.

between 16612 to 16668 is an Extremely strong resistance.

if nifty crosses over 16668 then it may also cross 16722 and may reach to the level of 16780.
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if nifty moves down below 16482 then it may also cross 16423 and may reach to the level of 16372.


if nifty moves down below 16372 then it may also cross 16320 and may reach to the level of 16266.

If nifty crosses down 16266. then it may take bounce back from bounce back zone.

IT IS HIGHLY UNLIKEY THAT NIFTY WILL CROSS 16780 AND REACH TO THE HIGHER LEVELS.