Nifty daily analysis for 09/06/23.
Nifty has given a beautiful bearish engulfing candle.
The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high.
Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions.
The market even tried to trap the retails by giving a fake out above 20 ema, on 15 minutes chart.
Support :- 18550, 18490
Resistance :- 18700, 18800.
Both side momentum has been there in today's trading session. The market may take a halt of fall further. Watch support and resistance.
Wait for the price action near the levels before entering the market.
The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high.
Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions.
The market even tried to trap the retails by giving a fake out above 20 ema, on 15 minutes chart.
Support :- 18550, 18490
Resistance :- 18700, 18800.
Both side momentum has been there in today's trading session. The market may take a halt of fall further. Watch support and resistance.
Wait for the price action near the levels before entering the market.
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