Nifty weekly analysis for 03/10/22.
Nifty in the weekly time frame has given a dragon fly doji candle. The market has closed just near the 20 ema and the market can retest before falling further.
On the daily time frame analysis, the market has given a nice moment in the last trading session and engulfed almost 4 daily candle and closing just near week's open. Market has tested its 200 ema and retraced nicely.
The market on the hourly candle has given only a single red candle whole day and sustained above the 20 ema.
Nifty has given a nice target for the moving average trades. As, on the 15 minute chart, it crossed its 20 ema and shot up to the 200 ema before facing any resistance.
The market has closed above 17000 levels and can remain green for the next week as it has already been in the negative for last 3 weeks.
Support :- 17060, 16990
Resistance :- 17170, 17230, 17260(fib level)
The global market are still in the red and Indian indices on the last trading session has given a nice up move. If the market show any positivity, its is the retest before another fall in the markets.
Wait for a price action near the price levels before entering the markets.
On the daily time frame analysis, the market has given a nice moment in the last trading session and engulfed almost 4 daily candle and closing just near week's open. Market has tested its 200 ema and retraced nicely.
The market on the hourly candle has given only a single red candle whole day and sustained above the 20 ema.
Nifty has given a nice target for the moving average trades. As, on the 15 minute chart, it crossed its 20 ema and shot up to the 200 ema before facing any resistance.
The market has closed above 17000 levels and can remain green for the next week as it has already been in the negative for last 3 weeks.
Support :- 17060, 16990
Resistance :- 17170, 17230, 17260(fib level)
The global market are still in the red and Indian indices on the last trading session has given a nice up move. If the market show any positivity, its is the retest before another fall in the markets.
Wait for a price action near the price levels before entering the markets.
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