Nifty daily analysis for 08/09/23.

Mambotrade Updated   
NSE:NIFTY   Nifty 50 Index
The market finally has given a nice trending move and has closed 116 point higher.

On the hourly charts, nifty took a slight pull back and started moving in the upward direction slow. During the second half it gave the break out and travelled, finding resistance around 19730 levels.

A nice bullish candle on the daily charts is showing some positivity and if the global markets support, nifty can travel higher.

On 15 minute time frame, it constantly took support from 20 ema closed very bullish.

Support :- 19640, 19550
Resistance :- 19785, 19845

The market has consolidated alot and the up move can continue owing to the G-20 summit.

Wait for the price action near the levels before entering the market.
Trade closed: target reached:

Nifty has hit all the target and has closed around 19800 levels.

It reversed after giving the target. This week there was a nice movement.


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