Nifty daily view for 02/09/22
Markets are in a serious gap ups and downs.
Nifty opened gap down and formed an inside candle on daily time frame. Though, market closed above the 20 DMA but still due to the global cues it’s not clear where the markets will head.
In the opening hour markets tried to give an upside movement and faced a rejection from 17700 levels. Market closed between 20 and 200 ema.
On 15 minute chart analysis, the moving averages close together and market closed below both the emas.
Support:- 17480, 17380, 17220
Resistance:- 17620, 17710
The market are volatile. Don’t just go for naked options trade.
Wait for the price action near the levels before trading the markets.
Nifty opened gap down and formed an inside candle on daily time frame. Though, market closed above the 20 DMA but still due to the global cues it’s not clear where the markets will head.
In the opening hour markets tried to give an upside movement and faced a rejection from 17700 levels. Market closed between 20 and 200 ema.
On 15 minute chart analysis, the moving averages close together and market closed below both the emas.
Support:- 17480, 17380, 17220
Resistance:- 17620, 17710
The market are volatile. Don’t just go for naked options trade.
Wait for the price action near the levels before trading the markets.
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