Nifty daily analysis for 05/12/22.
A nice trending market was there. Nifty has closed 190 lower and the volume of today are higher.
The market can consolidate in the first half and move in the second half.
If the markets start trading below 18k levels and sustain below the level, it can test the recent low of 17800.
There is a bearish moving averages cross over, on 15 minutes and a rejection of 200 ema, on hourly chart.
Support :- 17800, 17650
Resistance :- 18130, 18240
Wait for the price action near the levels before entering the markets.
The market can consolidate in the first half and move in the second half.
If the markets start trading below 18k levels and sustain below the level, it can test the recent low of 17800.
There is a bearish moving averages cross over, on 15 minutes and a rejection of 200 ema, on hourly chart.
Support :- 17800, 17650
Resistance :- 18130, 18240
Wait for the price action near the levels before entering the markets.
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