Nifty daily analysis for 07/11/22.
Nifty on the weekly time frame, has closed above the resistance level of 17900-18000.
The markets has retested the support level of 38.2% fib level and given a nice move.
On the hourly time frame, the market consolidated and a nice movement was there during the closing hour of the session. Nifty traded around its 20 ema and finally closed above it.
Even on the smaller time frame, the markets seems to be in a bullish momentum.
Support :- 18100, 18050, 18000
Resistance :- 18170, 18320, 18500
Support for nifty are close and the resistances are far away. The weekly closing also indicates some positive momentum in the week ahead.
A nice positive move can be captured.
Wait for the price action near the levels before entering the markets.
The markets has retested the support level of 38.2% fib level and given a nice move.
On the hourly time frame, the market consolidated and a nice movement was there during the closing hour of the session. Nifty traded around its 20 ema and finally closed above it.
Even on the smaller time frame, the markets seems to be in a bullish momentum.
Support :- 18100, 18050, 18000
Resistance :- 18170, 18320, 18500
Support for nifty are close and the resistances are far away. The weekly closing also indicates some positive momentum in the week ahead.
A nice positive move can be captured.
Wait for the price action near the levels before entering the markets.
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