Nifty weekly analysis for 18/09/23.
Nifty has given a nice marubozu candle on the weekly time frame with a good volumes.
On the daily time frame, there is a RSI divergence and there is a good volume on the closing day.
There was a gap up opening and it consolidated whole day taking resistance from 20200 levels and closed 89 points higher.
On the hourly time frame, the market is still sustaining itself above the moving averages and took good support around 20150 levels.
Nifty took support from the 20 ema, 15 minute charts, and has closed near the levels. The two closing candle are showing good volume and creating confusion as they have closed in red.
Support :- 20140, 20110, 20060
Resistance :- 20200, 20310
The market are on the top and are stretched enought to give a retracement.
Wait for the price action near the levels before entering the market.
On the daily time frame, there is a RSI divergence and there is a good volume on the closing day.
There was a gap up opening and it consolidated whole day taking resistance from 20200 levels and closed 89 points higher.
On the hourly time frame, the market is still sustaining itself above the moving averages and took good support around 20150 levels.
Nifty took support from the 20 ema, 15 minute charts, and has closed near the levels. The two closing candle are showing good volume and creating confusion as they have closed in red.
Support :- 20140, 20110, 20060
Resistance :- 20200, 20310
The market are on the top and are stretched enought to give a retracement.
Wait for the price action near the levels before entering the market.
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