Nifty daily analysis for 14/02/23.
Nifty has again faced resistance from the 20 ema and closed 85 points lower. The market has formed a kind of evening star and if the fall continues good momentum can be seen.
On the hourly charts, the market has formed a bearish flag and pole pattern and closed below both the moving averages. The market has broken the 20 ema and retested it.
The market has final given some movement and both the indices travelled in the same direction.
On 15 minutes time frame, the market has given a bearish moving averages cross over,
Watch the global markets and if the close negative Indian market can also give negative movement.
Support :- 17750, 17620-650
Resistance :- 17800, 17880
Wait for the price action near the levels before entering the markets.
On the hourly charts, the market has formed a bearish flag and pole pattern and closed below both the moving averages. The market has broken the 20 ema and retested it.
The market has final given some movement and both the indices travelled in the same direction.
On 15 minutes time frame, the market has given a bearish moving averages cross over,
Watch the global markets and if the close negative Indian market can also give negative movement.
Support :- 17750, 17620-650
Resistance :- 17800, 17880
Wait for the price action near the levels before entering the markets.
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