Nifty Outlook - 19 August 2022

Nifty Outlook - 19 August 2022
Nifty Outlook - 19 August 2022

by Ruchit Jain Last Updated: Sep 07, 2023 - 05:09 pm 19.2k Views
Listen icon

The index traded within a range on the weekly expiry day, but we witnessed some intraday volatility within the range and the Nifty ended the session marginally positive.


Nifty Today:

The indices witnessed some profit booking from the higher levels in the first half of the day , however the intraday correction got restricted around the hourly ’20 EMA’ support and the index recovered from the lows in the later part of the day. 


Nifty holding its short term supports in intraday declines


Nifty holding its short term supports in intraday declines


So the important short term supports are held on intraday dips and until we see any close below the same, the near term trend still remains up. However, the ‘RSI Smoothed’ oscillator has given a negative divergence on the lower time frame chart in the overbought zone which the first sign of caution. In the near term, if the index continues this upmove and the readings do not post new highs, then this could then lead to some negative divergences. Traders should keep a watch on the same and wait for crucial supports to get breached for taking any contra trades. The immediate supports in Nifty are now placed around 17850 and 17770 and close below these would be signs of reversal. Until then, we continue with our advice for traders to trade with a stock specific approach with reduced position size. 


Nifty & Bank Nifty Levels:


Nifty Levels

Bank Nifty Levels

Support 1



Support 2



Resistance 1



Resistance 2



How do you rate this blog?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage


About the Author

Ruchit Jain is Lead Research Analyst at 5paisa. He has a vast experience of 14 years in this field and is proficient in Technical and Derivatives Research. He has completed his CMT (U.S.A.) and has done Masters in the field of Finance at Mumbai University.


Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest Blogs
How ONDC is changing the ecommerce game in India?

One company is shaking things up in the ecommerce space. And that isn’t a flashy VC backed start-up. It's a company backed by the Indian government. I am talking about Open Network for Digital Commerce (ONDC). It has recorded a whopping 5.5 million transactions in December – its highest monthly figure since its inception.  To put this into perspective, in January of the previous year, ONDC had only logged 2,000 orders.

Analysis of Upcoming IPO - Platinum Industries Limited

What Platinum Industries Limited do? Platinum Industries Limited is stabilizer-producing firm that was founded in August 2016. firm produces lubricants, CPVC additives, & PVC stabilizers. Products from firm are utilized in packaging materials, rigid PVC foam boards, SPC floor tiles, electrical wires & cables, PVC fittings, PVC pipes, & more. Situated in Palghar, Maharashtra, company's production facility has 21,000 square feet of land.

Stock in Action – Vodafone Idea Ltd

Vodafone Idea’s Movement of Day