Nifty daily analysis for 16/06/23.
Bearish engulfing candle has been formed on the daily charts. It has held the level of 18700 and gave a break down in the final hour.
As predicted market gave a nice sell of after holding on the higher levels. There are chances of market testing lower levels further.
On hourly charts, the market has again closed between both the moving averages.
Support :- 18620-40, 18550-65
Resistance :- 18700, 18740
Market is trading at higher levels and there are resistances in near range. There is BOS and there are chance of market testing 18500 levels.
Wait for the price action near the levels before entering the market.
As predicted market gave a nice sell of after holding on the higher levels. There are chances of market testing lower levels further.
On hourly charts, the market has again closed between both the moving averages.
Support :- 18620-40, 18550-65
Resistance :- 18700, 18740
Market is trading at higher levels and there are resistances in near range. There is BOS and there are chance of market testing 18500 levels.
Wait for the price action near the levels before entering the market.
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