Nifty on the daily time frame has given a bearish engulfing candle engulfing three previous candles and closed 186 points lower.
The market has finally shown some momentum after a long time and the selling was there from the opening itself.
On the hourly time frame, there is a bearish moving averages cross over and a nice trending market was seen today.
Not a single green hourly candle was formed today and the close near 18200 level after a retest of 20 ema shows some negative trend in the last week of the year.
On 15 minute time frame, the market took support around 18200 level and closed below both the moving averages.
Support :- 18180, 18100
Resistance :- 18280, 18410-20
The market has given a nice movement and can remain silent after the huge fall. Watch for the option premium as tomorrow is weekly expiry.
Wait for the price action near the price level before entering the markets.
The market has finally shown some momentum after a long time and the selling was there from the opening itself.
On the hourly time frame, there is a bearish moving averages cross over and a nice trending market was seen today.
Not a single green hourly candle was formed today and the close near 18200 level after a retest of 20 ema shows some negative trend in the last week of the year.
On 15 minute time frame, the market took support around 18200 level and closed below both the moving averages.
Support :- 18180, 18100
Resistance :- 18280, 18410-20
The market has given a nice movement and can remain silent after the huge fall. Watch for the option premium as tomorrow is weekly expiry.
Wait for the price action near the price level before entering the markets.
