Nifty daily analysis for 16/11/22.
A nice bullish engulfing candle has been formed on the daily time frame.
Nifty, finally has given a close above 18400 and can test its ATH.
There was volatility in the market and market tested its 20 ema (on hourly time frame) and gave a nice up move in the last hour of the trading session.
On 15 minute time frame, the market traded around its moving average and gave a break out in the last hour.
Support :- 18400, 18375, 18320
Resistance :- 18500, 18600
Let the market take a retest before another up move.
Wait for the price action near the price level before entering the markets.
Nifty, finally has given a close above 18400 and can test its ATH.
There was volatility in the market and market tested its 20 ema (on hourly time frame) and gave a nice up move in the last hour of the trading session.
On 15 minute time frame, the market traded around its moving average and gave a break out in the last hour.
Support :- 18400, 18375, 18320
Resistance :- 18500, 18600
Let the market take a retest before another up move.
Wait for the price action near the price level before entering the markets.
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