Nifty after a gap down opening due to the global cues remained in a narrow range and closed 140 points lower taking support around 19500 levels.
On the daily charts, it has formed a doji candle and is still trading below the 20 ema.
On the hourly charts, market opened below both the moving averages and tested the 20 ema. It took resistance from the levels and closed around day's close.
The market reacted to the international news and after a gap down tried to regain some points.
Nifty remained stronger than the other index. Market trend is still indecided and there is no opportunity of a positional trend follower.
There is a bearish moving averages cross over, on 15 minutes charts, and it has retested the 20 ema.
Support :- 19500, 19350
Resistance :- 19575, 19730-50
Wait for the price action near the levels before entering the market.
On the daily charts, it has formed a doji candle and is still trading below the 20 ema.
On the hourly charts, market opened below both the moving averages and tested the 20 ema. It took resistance from the levels and closed around day's close.
The market reacted to the international news and after a gap down tried to regain some points.
Nifty remained stronger than the other index. Market trend is still indecided and there is no opportunity of a positional trend follower.
There is a bearish moving averages cross over, on 15 minutes charts, and it has retested the 20 ema.
Support :- 19500, 19350
Resistance :- 19575, 19730-50
Wait for the price action near the levels before entering the market.
