Nifty daily analysis for 12/01/23.
The market consolidated whole after the initial up move and formed a doji on the daily basis.
On the hourly chart, the market took resistance from the 20 ema and closing flat near the support of 17880.
There was a huge volatility and traded in a 50 points range in the second half making trouble for the option buyers.
On the 15 minutes chart, the market traded around the 20 ema.
Support :- 17880, 17800
Resistance :- 17930, 17970, 18030
The market has consolidated and a nice trending market can be seen tomorrow on the expiry.
Wait for the price action near the price level before entering the market.
On the hourly chart, the market took resistance from the 20 ema and closing flat near the support of 17880.
There was a huge volatility and traded in a 50 points range in the second half making trouble for the option buyers.
On the 15 minutes chart, the market traded around the 20 ema.
Support :- 17880, 17800
Resistance :- 17930, 17970, 18030
The market has consolidated and a nice trending market can be seen tomorrow on the expiry.
Wait for the price action near the price level before entering the market.
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