Nifty weekly expiry analysis 20/07/23.
Nifty is forming new highs daily and today it has closed near the high as well.
It has formed a dragon fly doji and is supported by other index too. There are good chances of hitting 20k levels in july series.
On the hourly charts, it is trading in a rising parallel channel pattern. Tomorrow is weekly expiry and breakout/breakdown can give good targets.
The markets are in the bull mode and even the global markets are supporting it.
On 15 minutes chart, it is respecting the 20 ema. After breaking the level it recovered took support from it again and during the last hour gave a nice upside movement.
Support :- 19760, 19650
Resistance :- 19875(fib level)
Wait for the price action near the levels before entering the market.
It has formed a dragon fly doji and is supported by other index too. There are good chances of hitting 20k levels in july series.
On the hourly charts, it is trading in a rising parallel channel pattern. Tomorrow is weekly expiry and breakout/breakdown can give good targets.
The markets are in the bull mode and even the global markets are supporting it.
On 15 minutes chart, it is respecting the 20 ema. After breaking the level it recovered took support from it again and during the last hour gave a nice upside movement.
Support :- 19760, 19650
Resistance :- 19875(fib level)
Wait for the price action near the levels before entering the market.
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