Nifty daily analysis for 26/08/22
The markets were volatile and huge selling in the last hour of the trading session marked the closing of monthly expiry.
Nifty has formed a bearish engulfing candle and closed around 17500.
The market has falling about 190 points in a single hourly candle, taking the market below its 20 ema and closed below the levels.
On 15 minute time frame analysis, the market is trading below its moving averages and a bearish moving cross over is there.
Support:- 17480, 17380, 17220
Resistance:- 17620, 17710
Wait for the price action near the levels before trading the markets.
Nifty has formed a bearish engulfing candle and closed around 17500.
The market has falling about 190 points in a single hourly candle, taking the market below its 20 ema and closed below the levels.
On 15 minute time frame analysis, the market is trading below its moving averages and a bearish moving cross over is there.
Support:- 17480, 17380, 17220
Resistance:- 17620, 17710
Wait for the price action near the levels before trading the markets.
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