Nifty is taking support around its 20 EMA on the daily charts. Banknifty is trading below the moving average but nifty is still holding the level and seems to be stronger.
On the hourly chart, nifty has closed between both the moving averages and for last two trading session has been trading in a single candle range.
Consolidation is there in the market and a good break out or break down can be seen.
On the smaller time frame, for intraday trading, market is taking serious rejection from the 20 EMA and closed below the moving averages.
Support :- 18620, 18560
Resistance :- 18760, 18890
Wait for the price action near the levels before entering the market.
On the hourly chart, nifty has closed between both the moving averages and for last two trading session has been trading in a single candle range.
Consolidation is there in the market and a good break out or break down can be seen.
On the smaller time frame, for intraday trading, market is taking serious rejection from the 20 EMA and closed below the moving averages.
Support :- 18620, 18560
Resistance :- 18760, 18890
Wait for the price action near the levels before entering the market.
