Nifty Intraday for 16th Jan 2023

16 ene 2023

#Nifty has bounced multiple times from their support (17,760) and created a possible bottom that could signal the hourly trend reversal, but we need confirmation. Friday's closing was the most important because it was the week's last session, and we have seen a favourable ending. Let's see if the market sentiment continues.

2 Hour TF
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1- Bottom valid since Dec 26'th
2- Hourly swing high break(17,880) on the Friday session and managed to close above
3-Trend line resistance holds the current downtrend (18,005) in the hourly time frame.
4- Intraday Range is 17,880 to 18,005

Trade Accordingly!