NIFTY Analysis
Daily Time Frame Outlook:
A strong rising trend in NIFTY50 as it is above 20,50,100,200 EMA's and INDIAVIX continues to be at a stable level of 10 showing more stability and confidence of market participants about the trend.
ADX after forming a peak level of 50 started trending down to the level of 37 now and RSI=52(neutral momentum). We can see a sideways market for a while.
Support: 19290-18300
Below this level we can see NIFTY further sliding down to 18900 levels.
Resistance: 19960
Above this level NIFTY can further show upward momentum till 20100 and 20400 levels.
A strong rising trend in NIFTY50 as it is above 20,50,100,200 EMA's and INDIAVIX continues to be at a stable level of 10 showing more stability and confidence of market participants about the trend.
ADX after forming a peak level of 50 started trending down to the level of 37 now and RSI=52(neutral momentum). We can see a sideways market for a while.
Support: 19290-18300
Below this level we can see NIFTY further sliding down to 18900 levels.
Resistance: 19960
Above this level NIFTY can further show upward momentum till 20100 and 20400 levels.
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