Nifty daily analysis for 25/01/23.
Nifty has taken a halt and closed flat giving a bearish candle. The market touched 18200 levels and took support from 18080 levels.
On the hourly charts, the market seemed in confusion and closed near both the moving averages.
The market is in consolidation. Gap ups are taking away trading opporunities and the sellers are making money in this zone.
On 15 minutes chart, market showed some positivity and took support from the 20 ema and closed below it. The market has closed between both the moving averages.
Support :- 18080, 18020
Resistance :- 18180-200, 18240
The market today remained for selling and the candle formed in showing negativity.
Though, now the SGX Nifty is trading higher close to 18200. Watch the global markets in the morning.
Wait for the price action near the price level before entering the markets.
On the hourly charts, the market seemed in confusion and closed near both the moving averages.
The market is in consolidation. Gap ups are taking away trading opporunities and the sellers are making money in this zone.
On 15 minutes chart, market showed some positivity and took support from the 20 ema and closed below it. The market has closed between both the moving averages.
Support :- 18080, 18020
Resistance :- 18180-200, 18240
The market today remained for selling and the candle formed in showing negativity.
Though, now the SGX Nifty is trading higher close to 18200. Watch the global markets in the morning.
Wait for the price action near the price level before entering the markets.
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