Nifty weekly expiry analysis for 12/10/23.
Nifty held on to the higher levels while banknifty gave away the points after a gap up opening.
It gained some points after a gap up opening and consolidated after the first hour move in a 50 points range whole day.
There is a bullish moving averages cross over, on the hourly charts, closing above both the moving averages.
On 15 minutes time frame, market took support from the 20 ema and has closed above it.
Tomorrow is nifty weekly expiry and it has closed around higher levels. There are chance of another gap up as the closing suggest.
Support :- 19770, 19720
Resistance :- 19840, 19900
Nifty is showing positive sentiment in Indian market and can retest the recent high in coming weeks.
Wait for the price action near the levels before entering the market.
It gained some points after a gap up opening and consolidated after the first hour move in a 50 points range whole day.
There is a bullish moving averages cross over, on the hourly charts, closing above both the moving averages.
On 15 minutes time frame, market took support from the 20 ema and has closed above it.
Tomorrow is nifty weekly expiry and it has closed around higher levels. There are chance of another gap up as the closing suggest.
Support :- 19770, 19720
Resistance :- 19840, 19900
Nifty is showing positive sentiment in Indian market and can retest the recent high in coming weeks.
Wait for the price action near the levels before entering the market.
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