Here's a breakdown of the market commentary for August 22, 2023,
August 22, 2023:
• NIFTY closed at 19396.45.
• NIFTY's highest point during the day was 19444.
• NIFTY's lowest point during the day was 19381.
It's mentioned that selling on higher levels was observed during the day, indicating that investors were taking the opportunity to sell as the price rose. Additionally, the commentary suggests that the bulls (buyers) were not very active or strong during this day.
Projected NIFTY Levels for August 23, 2023:
• Strong support: 19375.
• First resistance: 19439.
• Next resistance: 19529.
• Bullish confirmation: NIFTY needs to close above 19623 levels to confirm a bullish trend.
Again, the commentary provides potential support and resistance levels for the upcoming day, along with a key level for confirming a bullish trend. These levels are derived from technical analysis and historical price patterns.
As always, it's important to consider that market movements are influenced by a multitude of factors, and predictions are subject to change based on new information and events. It's advisable to stay informed about both technical and fundamental aspects of the market and to exercise caution when making investment decisions.
• NIFTY closed at 19396.45.
• NIFTY's highest point during the day was 19444.
• NIFTY's lowest point during the day was 19381.
It's mentioned that selling on higher levels was observed during the day, indicating that investors were taking the opportunity to sell as the price rose. Additionally, the commentary suggests that the bulls (buyers) were not very active or strong during this day.
Projected NIFTY Levels for August 23, 2023:
• Strong support: 19375.
• First resistance: 19439.
• Next resistance: 19529.
• Bullish confirmation: NIFTY needs to close above 19623 levels to confirm a bullish trend.
Again, the commentary provides potential support and resistance levels for the upcoming day, along with a key level for confirming a bullish trend. These levels are derived from technical analysis and historical price patterns.
As always, it's important to consider that market movements are influenced by a multitude of factors, and predictions are subject to change based on new information and events. It's advisable to stay informed about both technical and fundamental aspects of the market and to exercise caution when making investment decisions.