Nifty daily analysis for 27/10/23.
Nifty has given a nice fall in the first hour of the session and consolidated in 50 points range in the second half.
It has closed around the 200 ema on the daily charts forming another bearish candle of 265 points.
On the hourly chart, the market has after the 10:15 candle it remained in a range and has been trading below the moving averages.
There is a 3.5% fall in just 3 trading session and there are chances of taking a halt as it is trading around the crucial moving average.
Support :- 18850, 18650
Resistance :- 18900, 19000
Wait for the price action near the levels before entering the market.
It has closed around the 200 ema on the daily charts forming another bearish candle of 265 points.
On the hourly chart, the market has after the 10:15 candle it remained in a range and has been trading below the moving averages.
There is a 3.5% fall in just 3 trading session and there are chances of taking a halt as it is trading around the crucial moving average.
Support :- 18850, 18650
Resistance :- 18900, 19000
Wait for the price action near the levels before entering the market.
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