Nifty daily analysis for 17/01/23.
Nifty is taking a serious rejection from 18030 levels and today also Nifty tried to cross above the level but there was rejection from the first 15 minutes candle.
The market took support around our levels of 17860-70 giving aa nice movement of 50-60 points and in the end closed near the support level.
On the hourly charts, market has formed an inside candle and for intraday trades there can be an opporunity if the market crossed and sustain above or below the mother candle.
The global markets are trading postive and if sentiments remain postive, a trade can be initiated above 18030 level,
Support :- 17860, 17800
Resistance :- 17940, 18030
Wait for the price action before entering the markets.
The market took support around our levels of 17860-70 giving aa nice movement of 50-60 points and in the end closed near the support level.
On the hourly charts, market has formed an inside candle and for intraday trades there can be an opporunity if the market crossed and sustain above or below the mother candle.
The global markets are trading postive and if sentiments remain postive, a trade can be initiated above 18030 level,
Support :- 17860, 17800
Resistance :- 17940, 18030
Wait for the price action before entering the markets.
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