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Nif

Nifty daily analysis for 01/09/23.Nifty has been trading below the 20 ema and is taking support from 19250 levels. Market has lost around 200 points from this week high and is trading around the previous swing low. If the market gives a gap up opening then there can be a halt candle and on the bearish side there will be another sell off. On the hourly charts, the market came for selling and got rejection from the 20 ema. It has closed below both the moving averages. There is a bearish moving averages cross over today, which has given a good R:R ratio of 1:2.5, on 15 minute time frame. Nifty has been taking support from the trend line and has tested it 3-4 times. If the trend is broken then there can be a good sell off. Support :- 19240, 19180 Resistance :- 19310, 19400 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
2
Nifty daily analysis for 12/07/23.Nifty has again faced a rejection from the higher levels. Though, nifty closed 80 points higher after a gap up and has formed a gravestone doji on the daily charts. Markets are respecting the higher levels and couldn't convincingly create new highs. The market is missing on the buying or selling momentum and has been consolidating near the highs. On the hourly charts, the market crossed the 20 ema and during the closing has closed near it. There was trend in the both halfs. In the first half it travelled to the high and in the second high gave away the gains on the first half. Support :- 19420, 19300-30 Resistance :- 19520-30 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade