Nifty daily analysis for 21/10/22

NSE:NIFTY   Nifty 50 Index
Nifty on the daily time frame has given a nice bullish candle and during the last trading hour market sustained above 17500 level.

After a gap down market, market gave a up move and remain consolidated for 4 hours in a 40-50 points range.

On 60 minute time frame, the market sustained above the 20 ema in the initial hour and the break out during the last hour, gave some positive cues for tomorrow.

Nifty remained stronger than banknifty and closed gaining 30 points while banknifty closed in the red.

Support :- 17550, 17510, 17430
Resistance :- 17620, 17710, 17810

The market took a nice support for the previous day low and a nice up move was there.

Wait for the price action near the level before entering the market.


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