Nifty daily analysis for 18/01/23.
Nifty on the daily time frame has given a green candle closing 150 points higher. The market has finally closed above 18k level and near 20 ema.
On the hourly time frame, the market has closed between both the moving averages and has formed a higher high higher low pattern.
The market in the last hour broke above the level and closed above it. If the market crosses above the 200 ema (hourly charts) and sustains, a bullish movement can be seen.
On 15 minute time frame, there is a bullish moving average cross over. The market may give some bullish movement tomorrow or day after tomorrow.
Support :- 18030, 17940
Resistance :- 18130, 18170, 18240
The market has consolidated and finally closed above the resistance level. Bullish trades can be initiated for intraday.
Wait for the price action near the price levels before entering the market.
On the hourly time frame, the market has closed between both the moving averages and has formed a higher high higher low pattern.
The market in the last hour broke above the level and closed above it. If the market crosses above the 200 ema (hourly charts) and sustains, a bullish movement can be seen.
On 15 minute time frame, there is a bullish moving average cross over. The market may give some bullish movement tomorrow or day after tomorrow.
Support :- 18030, 17940
Resistance :- 18130, 18170, 18240
The market has consolidated and finally closed above the resistance level. Bullish trades can be initiated for intraday.
Wait for the price action near the price levels before entering the market.
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