Nifty daily analysis for 09/05/23
Institutions are winding up retails money as the markets are volatile. Gap up/down are giving losses to the retails.
Nifty has recovered all the losses of the previous session and has closed above the recent high of 18267.
A nice bullish marubozu candle is there on the daily time frame and there are chance of nifty trading around its ATH.
Nifty remained strong and gave a nice 200 points move in the first half and has consolidated in the second half of the session. Nice move can be seen, after market starts trading above 18300.
Market has given a break out of the levels is retesting it. If the break out fails, market will give good downside move, otherwise market will slowly touch the higher levels.
Support:-18250, 18060
Resistance :- 18290-300, 18400
Wait for the price action near the levels before entering the markets.
Nifty has recovered all the losses of the previous session and has closed above the recent high of 18267.
A nice bullish marubozu candle is there on the daily time frame and there are chance of nifty trading around its ATH.
Nifty remained strong and gave a nice 200 points move in the first half and has consolidated in the second half of the session. Nice move can be seen, after market starts trading above 18300.
Market has given a break out of the levels is retesting it. If the break out fails, market will give good downside move, otherwise market will slowly touch the higher levels.
Support:-18250, 18060
Resistance :- 18290-300, 18400
Wait for the price action near the levels before entering the markets.
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