Description
⋅ After a initial gap down the market break down to 18200 and gained back forming a dragon fly doji giving close only 35 lower.
On the hourly time frame, the market gained some momentum closing above both the moving averages.
The market has given nice closing and if the market start trading above 18420 it can give nice movement up to 18500 level.
On 15 minute time frame, the market has closed between both the moving averages.
Support :- 18325, 18250, 18200
Resistance :- 18420, 18515
The market is giving bullish closing but the initial gap downs changes the equation.
Wait for the price action near the level before entering the markets.