Nifty daily analysis for 07/07/23.

NSE:NIFTY   Nifty 50 Index
Nifty on the daily time frame has given a nice move and closed around the round number figure of 19500.

The market gave a nice move in the first hour and consolidated whole in a range. During the last hour too the market gave a break out and gave a fifty points.

Market is moving in a good bullish cycle of consolidation and breakout.

On 15 minute time frame, nifty is taking support from the 20 ema.

Being the expiry, the last hour move gave nice profits to the option buyer .

Support :- 19460, 19410
No serious resistance is there on the upper side as market is making new ATH and the supports are near by.

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


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