Nifty view for 01/08/22.

Nifty on monthly and weekly time frame has given a breakout of 20 ema and retested it.

A nice bullish candle is there and the market has subtended to a nice level above 17k.

On daily time frame, nifty has crossed and tested its 200 ema and sustained above the 17k level.

The markets on the higher time frame has turned bullish.

There is bullish moving averages crossover on 4-hour charts.

The market has stretched and can take a halt for 1-2 days.

support :- 17100, 17000, 16880
Resistance :- 17280, 17400-430

The markets have crossed 17k, a huge resistance, and sustained over it.

Wait for the price action before trading the markets.