Nifty daily analysis for 15/09/23.
Nifty consolidated on the weekly expiry after a movement in the opening hours. A doji candle has been formed on the ATH and after a nice upmove there will be a retracement or side ways market.
It has closed around 20100 levels and there were no opportunities in the second half of the trading session.
On the hourly charts, nifty tried to test the 20 ema but reversed before testing it. It traded in a range on 60-70 poinnts in the second half.
The markets are losing strenght as there is a RSI divergence on the daily charts and even on the hourly charts there is a bearish divergence.
Watch for a market and it would be wise to carry less quantities in bullish trades.
On 15 minute time frame, after the initial profit booking market traded around the 20 ema and expired near the previous day close.
Support :- 20060, 20020, 19950
Resistance :- 20110, 20200
Wait for the price action near the levels before entering the market.
It has closed around 20100 levels and there were no opportunities in the second half of the trading session.
On the hourly charts, nifty tried to test the 20 ema but reversed before testing it. It traded in a range on 60-70 poinnts in the second half.
The markets are losing strenght as there is a RSI divergence on the daily charts and even on the hourly charts there is a bearish divergence.
Watch for a market and it would be wise to carry less quantities in bullish trades.
On 15 minute time frame, after the initial profit booking market traded around the 20 ema and expired near the previous day close.
Support :- 20060, 20020, 19950
Resistance :- 20110, 20200
Wait for the price action near the levels before entering the market.
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