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...
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...
This is nifty on 4hr time frame here i marked a support zone along with a trendline , if nifty will not be able to hold these level (17800-17750)
than we may see a fall toward the level of 17500 so view is Bearish here make your trading plan accordingly
As FII & DII sold today
New support level = 17800-17750
New Resistance level = 17250-18200