Nifty weekly analysis for 10/10/22.
Nifty has formed another doji on a weekly time frame. Though, market has gained 200 points on the weekly time frame, daily gap up and gap down are not giving any intraday opporunities.
The market has closed just below the 20 DMA.
Nifty, on the hourly time frame, is stuck between the 20 and 200 emas. In the second half on the trading session the market gave a nice up move.
Indian markets follow the global markets and SGX nifty has closed 240 points lower.
Nifty in trading above the moving averages on 15 minute time frame.
Support:- 17230, 17170, 17060
Resistance :- 17360, 17410
The negative global markets are showing another gap down for indian markets. I would suggest to avoid intraday trades in the indices.
Wait for any price action near the price action near the levels before entering the markets.
The market has closed just below the 20 DMA.
Nifty, on the hourly time frame, is stuck between the 20 and 200 emas. In the second half on the trading session the market gave a nice up move.
Indian markets follow the global markets and SGX nifty has closed 240 points lower.
Nifty in trading above the moving averages on 15 minute time frame.
Support:- 17230, 17170, 17060
Resistance :- 17360, 17410
The negative global markets are showing another gap down for indian markets. I would suggest to avoid intraday trades in the indices.
Wait for any price action near the price action near the levels before entering the markets.
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