Nifty daily analysis for 04/01/23.
Nifty is facing resistance from the 200 ema and if market start trading above the level, good momentum can be seen.
The market has been trading between both the moving averages and has closed near the 200 ema on hourly chart.
Indian market has closed near good level and if global cues remain positive market can se a bullish trend and other the side it can give nice bearish quicky.
The market is showing some bearish flag and pole pattern on daily time frame.
Support ;- 18190, 18154
Resistance :- 18300, 18380
Market is at an interesting level. Either side move will be quite violent and 100-150 points move can be capture.
Wait for the price action near the levels before entering the markets.
The market has been trading between both the moving averages and has closed near the 200 ema on hourly chart.
Indian market has closed near good level and if global cues remain positive market can se a bullish trend and other the side it can give nice bearish quicky.
The market is showing some bearish flag and pole pattern on daily time frame.
Support ;- 18190, 18154
Resistance :- 18300, 18380
Market is at an interesting level. Either side move will be quite violent and 100-150 points move can be capture.
Wait for the price action near the levels before entering the markets.
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