Nifty daily analysis for 13/12/22.

NSE:NIFTY   Nifty 50 Index
Nifty on the daily time frame has formed a doji candle and closed flat.

On the hourly time frame, the market has tested the 200 ema and consolidated after the initial hour of movement. The market closed between both the moving averages.

Nifty has traded in a broader range and remained in the range.

The market has given a bullish closing but still taking resistance from 18500 level.

Support :- 18435, 18366
Resistance :- 18520-550, 18615

The market has remained in a consolidation phase after an initial move and can give nice movement in the coming days.

Wait for the price action near the levels before entering the markets.


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