Nifty intraday levels for 23/04/24.

Nifty has been trading in the bearish zone and might be this is the retest as it has closed around 61.8% fib level.

Market has taken support from the previous low of around 21800 and recovered closing around 22300 levels.

There was a consolidation after a gap up opening and it closed around the opening price. If the market gives a gap down opening, there will be chance of bearish move as the market recovered quickly from the low.

Major support levels :- 22160-230, 22000 (round number)

The market on the hourly charts has closed above both the moving averages which shows some positiveness in the market.

Resistance levels :- 22500, 22620

Wait for the price action near the levels before entering the market.

Gaps can alter the trading plan. Watch the price action around the levels and trade accordingly.