Nifty daily analysis for 16/09/22.
Nifty for the last 3 trading session has been testing the level of 18100 and huge sell off came today in the first half of the trading session.
The market was unable to hold the support of 20 ema on hourly time frame and closed below it.
On 15 minute analysis, the market has broken the 20 ema and took support from 200 ema. Nifty has closed below 17900 and closed around 200 ema .
A retracement was pending and the market can give another down side move tomorrow.
Support :- 17830,17780, 17710
Resistance :- 17930, 17980, 18090
Wait for the price action near the levels before entering the markets.
The market was unable to hold the support of 20 ema on hourly time frame and closed below it.
On 15 minute analysis, the market has broken the 20 ema and took support from 200 ema. Nifty has closed below 17900 and closed around 200 ema .
A retracement was pending and the market can give another down side move tomorrow.
Support :- 17830,17780, 17710
Resistance :- 17930, 17980, 18090
Wait for the price action near the levels before entering the markets.
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