Nifty daily analysis for 19/01/23.
Nifty on the daily time frame has given a nice bullish candle and closed above the 20 ema.
The market in the second half has consolidated and can give a nice trending market if it breaks out of the box.
On the hourly chart, there is a flag and pole pattern and closed above both the moving averages.
There is a RSI divergence, on 15 minutes chart, which shows some bearish trend. If the market cracks down, bearish trades can be initiated.
Support :- 18130, 18030
Resistance :- 18180, 18240
The global markets are in negative. Watch for the global markets in the morning and trade accordingly.
Wait for the price action near the price level before entering the markets.
The market in the second half has consolidated and can give a nice trending market if it breaks out of the box.
On the hourly chart, there is a flag and pole pattern and closed above both the moving averages.
There is a RSI divergence, on 15 minutes chart, which shows some bearish trend. If the market cracks down, bearish trades can be initiated.
Support :- 18130, 18030
Resistance :- 18180, 18240
The global markets are in negative. Watch for the global markets in the morning and trade accordingly.
Wait for the price action near the price level before entering the markets.
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