Nifty daily analysis for 12/12/22.

NSE:NIFTY   Nifty 50 Index
Nifty on the weekly time frame has formed an inside candle and closed 1% lower.

On the daily time frame, the market has tested the 20 ema and closed above the levels. There is a bearish engulfing candle on the daily time frame.

The market has been following a downtrend and has closed between 20 and 200 ema on hourly time frame.

There is a bearish moving averages cross over, on 15 minute time frame and is taking resistance from the moving averages.

Support :- 18430, 18255
Resistance :- 18550, 18615

The stock market are still in confusion and trending market can be seen in the coming days.

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


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.