Nifty daily analysis for 20/12/22.
Nifty is showing some signs of recovery and has formed a strong bullish candle.
The market has closed above 18400 level and on the hourly time frame, the market has closed above both the moving averages.
Candle has closed near 38.2% fibonnaci level. If the market sustains above 50% fib level i.e. 18520 level the market can go to the recent high.
On 15 minute time frame, the market the market has crossed and sustain above 20 ema and closed between both the moving averages.
Support :- 18410, 18325
Resistance :- 18515, 18620
The market has given a bullish closing and can test higher levels.
Wait for the price action near the levels before entering the markets.
The market has closed above 18400 level and on the hourly time frame, the market has closed above both the moving averages.
Candle has closed near 38.2% fibonnaci level. If the market sustains above 50% fib level i.e. 18520 level the market can go to the recent high.
On 15 minute time frame, the market the market has crossed and sustain above 20 ema and closed between both the moving averages.
Support :- 18410, 18325
Resistance :- 18515, 18620
The market has given a bullish closing and can test higher levels.
Wait for the price action near the levels before entering the markets.
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