Nifty daily analysis for 18/11/22.
After a consolidation nifty has given a break down and tested 18300 levels.
There is doji on the higher time frame and there can be retest.
On the hourly time frame, the market has breached its 20 ema and closed below it.
There was a short covering in the last hour and the market can be in red today also.
Even on 15 minute time frame, the markets closed between both the EMA’s.
Support:- 18320, 18280, 18210
Resistance:- 18360, 18400
Wait for the price action near the levels before trading the markets.
There is doji on the higher time frame and there can be retest.
On the hourly time frame, the market has breached its 20 ema and closed below it.
There was a short covering in the last hour and the market can be in red today also.
Even on 15 minute time frame, the markets closed between both the EMA’s.
Support:- 18320, 18280, 18210
Resistance:- 18360, 18400
Wait for the price action near the levels before trading the markets.
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