Nifty weekly analysis for 05/09/22.
Nifty on the weekly time frame has recovered all the lose and closed only 20 points down on weekly time frame.
The market is trading above its weekly 20 ema and has given a nice target after forming a double top formation.
On the daily time frame, the markets has formed inside candle and are sustaining above the 20 DMA.
Nifty remained in a range whole day and couldn't sustain above hourly 20 ema and closed between both the EMAs.
The markets are unpredictable and on the 15 minute time frame, closed below 20 and 200 ema, giving some negative signs during the closing hour of the previous trading session.
Support :- 17480, 17380, 17285
Resistance :- 17620, 17710, 17830
The global market are also volatile and its wise to wait for the Vix to cool down.
Wait for the price action near the levels before entering the markets.
The market is trading above its weekly 20 ema and has given a nice target after forming a double top formation.
On the daily time frame, the markets has formed inside candle and are sustaining above the 20 DMA.
Nifty remained in a range whole day and couldn't sustain above hourly 20 ema and closed between both the EMAs.
The markets are unpredictable and on the 15 minute time frame, closed below 20 and 200 ema, giving some negative signs during the closing hour of the previous trading session.
Support :- 17480, 17380, 17285
Resistance :- 17620, 17710, 17830
The global market are also volatile and its wise to wait for the Vix to cool down.
Wait for the price action near the levels before entering the markets.
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