Nifty daily analysis for 22/09/22.
Nifty on the daily time frame has formed another doji. It has tested its 20 DMA and regained and sustained the support of 17710.
On the daily time frame, the market has closed below its 20 ema and in the second half of the trading session the market sold off.
The market is still not showing any sure trend and on the 15 minute time frame, there is bearish moving averages cross over.
Support :-17710, 17650, 17580
Resistance :- 17770-80, 17830, 17870
Wait for the price action near the levels before entering the market.
Tomorrow is expiry watch for the premium as time decay will cut the profits.
On the daily time frame, the market has closed below its 20 ema and in the second half of the trading session the market sold off.
The market is still not showing any sure trend and on the 15 minute time frame, there is bearish moving averages cross over.
Support :-17710, 17650, 17580
Resistance :- 17770-80, 17830, 17870
Wait for the price action near the levels before entering the market.
Tomorrow is expiry watch for the premium as time decay will cut the profits.
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