Nifty has been trading between 20 and 200 ema on a daily time frame.
Market was down on the last trading day and has closed below the crucial 20 and 200 ema on 15 and 60 minute time frame
It has been respecting a trend line and has given a break out and retested it, on daily time frame and has formed a doji on weekly time frame.
Support :- 17160, 17100, 17000
Resistance :- 17260, 17340, 17450
The market is still in confusion. Though, it has tested the 0.5 fib level and have retraced, still the trend is not confirmed.
Wait for the confirmation near the levels.
#niftyview
Market was down on the last trading day and has closed below the crucial 20 and 200 ema on 15 and 60 minute time frame
It has been respecting a trend line and has given a break out and retested it, on daily time frame and has formed a doji on weekly time frame.
Support :- 17160, 17100, 17000
Resistance :- 17260, 17340, 17450
The market is still in confusion. Though, it has tested the 0.5 fib level and have retraced, still the trend is not confirmed.
Wait for the confirmation near the levels.
#niftyview
