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Nifty view for 08/06/22

Nifty 50 Index (NSE:NIFTY)  
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NSE:NIFTY   Nifty 50 Index
Support and Resistance Moving Averages Multiple Time Frame Analysis NIFTY niftybank niftyanalysis niftyprediction niftyoutlook niftytrend niftyview niftytrade niftytradesetup
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supportandresistance movingaverage mtfa nifty niftybank niftyanalysis niftyprediction niftyoutlook niftytrend niftyview niftytrade niftytradesetup
Nifty after a gap down travelled even below to the level on 16350, filling the gap and retracing back to the support of 16400.

Market has closed below its 20 DMA and on and hourly time frame there is bearish moving averages cross over.

Price is just traveling around the moving averages.

Support:- 16400, 16300
Resistance:- 16480, 16640

Market can remain in red for tomorrow as there is RBI policy.

Wait for the price action before entering the market.

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