Nifty daily analysis for 25/10/23.
Nifty has given a nice fall on the daily charts and took support from the major support range of 19230-250.
There is a nice bearish candle on the daily chart and market is trading below the 20 ema. Chances are of market testing the 200 ema.
On the hourly charts, there was a consolidation in the first half of the market and in the second half the market fell of more than 130 points.
Now there is a bearish trend for a short term. If the market continue to fall and starts trading below the 19200 levels then it will test 19000 and 18850.
Support :- 19230, 19000
Resistance :- 19420, 19500
The market can go trending as it is approaching the monthly expiry.
Wait for the price action near the levels before entering the market.
There is a nice bearish candle on the daily chart and market is trading below the 20 ema. Chances are of market testing the 200 ema.
On the hourly charts, there was a consolidation in the first half of the market and in the second half the market fell of more than 130 points.
Now there is a bearish trend for a short term. If the market continue to fall and starts trading below the 19200 levels then it will test 19000 and 18850.
Support :- 19230, 19000
Resistance :- 19420, 19500
The market can go trending as it is approaching the monthly expiry.
Wait for the price action near the levels before entering the market.
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