Description
⋅ 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.