Nifty daily analysis for 12/07/23.
Nifty has again faced a rejection from the higher levels. Though, nifty closed 80 points higher after a gap up and has formed a gravestone doji on the daily charts.
Markets are respecting the higher levels and couldn't convincingly create new highs. The market is missing on the buying or selling momentum and has been consolidating near the highs.
On the hourly charts, the market crossed the 20 ema and during the closing has closed near it.
There was trend in the both halfs. In the first half it travelled to the high and in the second high gave away the gains on the first half.
Support :- 19420, 19300-30
Resistance :- 19520-30
Wait for the price action near the levels before entering the market.
Markets are respecting the higher levels and couldn't convincingly create new highs. The market is missing on the buying or selling momentum and has been consolidating near the highs.
On the hourly charts, the market crossed the 20 ema and during the closing has closed near it.
There was trend in the both halfs. In the first half it travelled to the high and in the second high gave away the gains on the first half.
Support :- 19420, 19300-30
Resistance :- 19520-30
Wait for the price action near the levels before entering the market.
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