Nifty weekly analysis for 06/11/23.
Nifty after a selling has recovered upto 50% fib levels. The market has formed a baby mother candle on the weekly charts and it still trading below the 20 ema.
Markets are not doing much during the trading hour as there is a gap up and consolidation during the trading session.
On the hourly charts the market has been trading in a range of not more than 60 points.
Support :- 19150, 19070
Resistance :- 19270, 19400
Much of the movement is not there in the market. Watch and confirm the setup as there is no follow through for last 3 trading sessions.
Wait for the price action near the levels before trading the market.
Markets are not doing much during the trading hour as there is a gap up and consolidation during the trading session.
On the hourly charts the market has been trading in a range of not more than 60 points.
Support :- 19150, 19070
Resistance :- 19270, 19400
Much of the movement is not there in the market. Watch and confirm the setup as there is no follow through for last 3 trading sessions.
Wait for the price action near the levels before trading the market.
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