Nifty daily analysis for 07/06/23.
A perfect dragon fly doji has been formed on the daily charts. Markets recovered in the last hour of the session.
On the hourly charts, the market has closed above the 20 ema. Nifty fell slowlu and recovered quickly during the last hour and closed flat.
The market has closed above both the moving averages on 15 minutes charts.
Support :- 18560, 18490
Resistance :- 18680, 18800
The market has been trading in a range and can give nice up move as it is holding the upper levels.
Bullish trades should only be initiated once the market crosses the major resistance area of 18700.
Wait for the price action near the levels before entering the market.
On the hourly charts, the market has closed above the 20 ema. Nifty fell slowlu and recovered quickly during the last hour and closed flat.
The market has closed above both the moving averages on 15 minutes charts.
Support :- 18560, 18490
Resistance :- 18680, 18800
The market has been trading in a range and can give nice up move as it is holding the upper levels.
Bullish trades should only be initiated once the market crosses the major resistance area of 18700.
Wait for the price action near the levels before entering the market.
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