Nifty view for 04/08/22.
Nifty on daily closing has given a dragon fly doji and respected the level of 17400.
The market retested and recovered in the last trading hour of the day. There is a bullish moving averages cross over on daily charts.
On hourly chart analysis market respected its 20 ema and has given a nice up move.
The market On 15 minute chart, the market traded around its 20 ema and in the last hour crossed and sustained above it.
The market has closed in a bullish mode and can remain in a bullish mode in the first half of the next trading session.
support :- 17220, 17300, 17100
Resistance :-17400-430, 17630
Wait for the price action before trading the markets.
The market retested and recovered in the last trading hour of the day. There is a bullish moving averages cross over on daily charts.
On hourly chart analysis market respected its 20 ema and has given a nice up move.
The market On 15 minute chart, the market traded around its 20 ema and in the last hour crossed and sustained above it.
The market has closed in a bullish mode and can remain in a bullish mode in the first half of the next trading session.
support :- 17220, 17300, 17100
Resistance :-17400-430, 17630
Wait for the price action before trading the markets.
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