Nifty daily analysis for 28/11/22.

NSE:NIFTY   Nifty 50 Index
Nifty on the weekly time frame has formed a bullish engulfing candle and gained 200 points taking market above 18500 level.

The market on the daily time frame has formed a hammer doji and is near the all time high. Nifty may also create new ATH and reached the round number of 19k in the december series.

On the hourly time frame, there is a U shape recovery. The market fell after a gap up and closed near the day's opening.

Nifty took support from 20 ema, on 15 minute time frame, closed above the moving averages.

Support :- 18450, 18390, 18325
Resistance :- 18535, 18600

The market can form new ATH and the halt near the high is suggest some good bullish movement during the month.

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


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