Nifty daily analysis for 23/12/22.
Nifty has been trading below 20 DMA and has tested 18100 levels.
The index has taken a support from 38.6% fibonnaci levels and has closed above it.
On the hourly time frame, the market is retested the 20 ema at the opening and there was a sell off taking support around 18100 levels.
There is a sell off in the market and closed below both the moving averages, on 15 minute time frame.
Support :- 18075, 17970
Resistance :- 18180, 18280
If the market breaks below 38.6% fibonacci leves, it can test the 50% level.
Wait for the price action near the levels before entering th markets.
The index has taken a support from 38.6% fibonnaci levels and has closed above it.
On the hourly time frame, the market is retested the 20 ema at the opening and there was a sell off taking support around 18100 levels.
There is a sell off in the market and closed below both the moving averages, on 15 minute time frame.
Support :- 18075, 17970
Resistance :- 18180, 18280
If the market breaks below 38.6% fibonacci leves, it can test the 50% level.
Wait for the price action near the levels before entering th markets.
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