Nifty daily analysis for 30/08/23.
Nifty is not taking the benefit of the gap up opening and is coming for selling from the very first candle. Though, the market recovered after falling and closed 36 points above, still there is sideway to volatile market.
Option sellers market is on as the volatility is taking away the premiums benefitting the sellers.
On the hourly charts, it took support multiple times from the 20 ema and has closed between both the moving averages.
Nifty today has traded in a range of 50 points and has formed a box consolidation. The market is giving less intraday opportunities. It will be good to let market decide the trend and trade accordingly.
On 15 minute time frame, it has closed between both the moving averages and regained 40 points in the last two candles.
Support :- 19310, 19250
Resistance :- 19350-380, 19480
Wait for the price action near the levels before entering the market.
Option sellers market is on as the volatility is taking away the premiums benefitting the sellers.
On the hourly charts, it took support multiple times from the 20 ema and has closed between both the moving averages.
Nifty today has traded in a range of 50 points and has formed a box consolidation. The market is giving less intraday opportunities. It will be good to let market decide the trend and trade accordingly.
On 15 minute time frame, it has closed between both the moving averages and regained 40 points in the last two candles.
Support :- 19310, 19250
Resistance :- 19350-380, 19480
Wait for the price action near the levels before entering the market.
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