Nifty daily analysis for 21/07/23.Nifty almost touched the 20k levels today and has closed near the high. Market are running higher and Bulls are taking on the sellers making it difficult for the option sellers today.
On the hourly charts, the first candle was in red and after that whole day the market rallied upside.
The breakout gave a good target and option premium gained more than 200% gains.
Even during the last hour market kept on going higher without taking a halt and tried to touch the round figure levels.
Support :- 19850, 19730
Resistance :- 20000
The market are in the bull market and no real resistance is there. Fibonacci retracement tool can be considered to find resistance levels.
Wait for the price action near the levels before entering the market.
