Nifty weekly analysis for 05/06/23.
Nifty for the last 3 trading session has been trading in a range and next week trade in nifty can give good points.
On the higher levels the market has given a bearish doji candle. There can be a double top formation as the market prevoiusly reversed from 18680 levels.
The market has given a rally of 1600 points in 2 months time. There will be a retracement before another up move.
Markets on the hourly charts, trading around 20 ema.
Support :- 18490, 18420, 18280
Resistance :- 18585, 18680
The market has consolidated for ample time. There are chance of a break down, if entered a bearish trade good target can be achieved.
Wait for the price action near the price levels before entering the market.
On the higher levels the market has given a bearish doji candle. There can be a double top formation as the market prevoiusly reversed from 18680 levels.
The market has given a rally of 1600 points in 2 months time. There will be a retracement before another up move.
Markets on the hourly charts, trading around 20 ema.
Support :- 18490, 18420, 18280
Resistance :- 18585, 18680
The market has consolidated for ample time. There are chance of a break down, if entered a bearish trade good target can be achieved.
Wait for the price action near the price levels before entering the market.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.