Nifty weekly analysis for 26/09/22.
Nifty has closed near to the 20 ema on weekly time frame and has lost 2.5% in a week.
The market has given quick and steady retracement after the new ATH.
The market has tested the 17800 levels and took support around it.
If the market remain bearish, nifty can test the 17k levels soon.
On 4 hour time frame, the market is resting at its 200 ema and is it drops below it nice targets can be achieved on the short side.
The markets on the intraday levels is trading below 20 ema and is showing bearish trend.
Support :- 17730, 17650, 17590
Resistance :- 17870, 17957, 18080
Wait for the price action near the price level before entering the markets.
The market has given quick and steady retracement after the new ATH.
The market has tested the 17800 levels and took support around it.
If the market remain bearish, nifty can test the 17k levels soon.
On 4 hour time frame, the market is resting at its 200 ema and is it drops below it nice targets can be achieved on the short side.
The markets on the intraday levels is trading below 20 ema and is showing bearish trend.
Support :- 17730, 17650, 17590
Resistance :- 17870, 17957, 18080
Wait for the price action near the price level before entering the markets.
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Penafian
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