Nifty daily analysis for 05/07/23.
Another fap up day in nifty. Today market on remained volatile and has formed a dragon fly doji.
The market has closed gaining 66 points and has consolidated whole day, closing near the opening price.
On the hourly charts, market remained in the first hour candle and gap filling trade was there in the first hour.
Nifty has been respecting the 20 EMA, on 15 minutes chart, and has closed around the levels.
The market has given nice up side movement and a healthy retracement is pending.
Support :- 19330, 19250
Resistance :- 19410
Nifty is volatile now and is holding on the higher levels. If the market comes for retracement, intraday sell opportunity can be taken with small target.
Wait for the price action near the levels before entering the market.
The market has closed gaining 66 points and has consolidated whole day, closing near the opening price.
On the hourly charts, market remained in the first hour candle and gap filling trade was there in the first hour.
Nifty has been respecting the 20 EMA, on 15 minutes chart, and has closed around the levels.
The market has given nice up side movement and a healthy retracement is pending.
Support :- 19330, 19250
Resistance :- 19410
Nifty is volatile now and is holding on the higher levels. If the market comes for retracement, intraday sell opportunity can be taken with small target.
Wait for the price action near the levels before entering the market.
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