Nifty daily analysis for19/10/22

NSE:NIFTY   Nifty 50 Index
Nifty after a gap up it has consolidated, taking resistance from 17500 levels. The market closed above the 20 ema yesterday and the gap up took nifty to 17500 level.

The market has consolidated whole day and there is a bullish moving averages cross over on the hourly time frame.

On a 15 minute time frame, the market has formed a flag and pole pattern and there is a break out during the end of the session.

Support :- 17450, 17410, 17325
Resistance :- 17530, 17620, 17700

The market are in a bullish movement. If the global market show some positivity, the markets can carry the momentum.

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


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