Nifty view for 04/07/22
Nifty on higher time frame has shown a negativity and the markets are showing some bearish trend.
This is the third monthly red candle. Though the markets are taking support at its 20 ema.
Markets are still choppy and no clear trend is still there.
On weekly analysis, there is a formation on lower lows and lower highs. The market has tested its 0.382 fib level and has closed below it.
The market is unable to cross its 20 DMA and the bearish moving average cross over still prevails.
On smaller time frame, the markets seems sideways to bullish. Nifty has closed above its 20 and 200 ema on 15 minute time frame.
Support :- 15715, 15625
Resistance :- 15760, 15880
The markets are jittery and can remain side way.
Wait for the price action near the levels before entering the markets.
This is the third monthly red candle. Though the markets are taking support at its 20 ema.
Markets are still choppy and no clear trend is still there.
On weekly analysis, there is a formation on lower lows and lower highs. The market has tested its 0.382 fib level and has closed below it.
The market is unable to cross its 20 DMA and the bearish moving average cross over still prevails.
On smaller time frame, the markets seems sideways to bullish. Nifty has closed above its 20 and 200 ema on 15 minute time frame.
Support :- 15715, 15625
Resistance :- 15760, 15880
The markets are jittery and can remain side way.
Wait for the price action near the levels before entering the markets.
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