Nifty daily analysis for 30/11/22.
Nifty on the daily time frame has formed a inverted hammer candle and after touching a high of 18678 closed only 55 point above the previous close.
Market opened flat and from the first hour it started trading above yesterday's high.
The market reversed during the last hour of the trading session.
On 15 minute time frame, nifty has again closed below the 20 ema but the market has given a close above the 18600 levels.
The market are looking for new highs everyday and a quick retracement can be there.
Support :- 18530, 18450
Resistance:- 18670
Look for the global markets as the Dow jones was lower yesterday. If the global markets are weak, India markets can also come for a retracement.
Wait for the price action near the levels before entering the markets.
Market opened flat and from the first hour it started trading above yesterday's high.
The market reversed during the last hour of the trading session.
On 15 minute time frame, nifty has again closed below the 20 ema but the market has given a close above the 18600 levels.
The market are looking for new highs everyday and a quick retracement can be there.
Support :- 18530, 18450
Resistance:- 18670
Look for the global markets as the Dow jones was lower yesterday. If the global markets are weak, India markets can also come for a retracement.
Wait for the price action near the levels before entering the markets.
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