Nifty daily analysis for 11/11/22.
The market on the daily time frame has given a doji candle and closed 128 points, creating volatility.
Nifty from yesterday was in a downtrend, making lower highs and lower lows. Even after the gap down the markets remained for selling.
On the hourly time frame, the market in the last hour has given some recovery and closed above 18000 level.
There was a bearish flag pattern, on 15 minute time frame, and a nice moment was there after the break down. Moving averages are close enough and the market has closed above both the EMA's (15 minute).
Support :- 17974, 17900, 17835
Resistance :- 18075, 18120, 18210
The markets are volatile and the global cues are showing some negativity.
The cryptocurrency too have lost around 20% till now in this week.
Wait for the price action before entering the markets.
Nifty from yesterday was in a downtrend, making lower highs and lower lows. Even after the gap down the markets remained for selling.
On the hourly time frame, the market in the last hour has given some recovery and closed above 18000 level.
There was a bearish flag pattern, on 15 minute time frame, and a nice moment was there after the break down. Moving averages are close enough and the market has closed above both the EMA's (15 minute).
Support :- 17974, 17900, 17835
Resistance :- 18075, 18120, 18210
The markets are volatile and the global cues are showing some negativity.
The cryptocurrency too have lost around 20% till now in this week.
Wait for the price action before entering the markets.
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