Nifty weekly analysis for 05/06/23.
Nifty for the last 3 trading session has been trading in a range and next week trade in nifty can give good points.
On the higher levels the market has given a bearish doji candle. There can be a double top formation as the market prevoiusly reversed from 18680 levels.
The market has given a rally of 1600 points in 2 months time. There will be a retracement before another up move.
Markets on the hourly charts, trading around 20 ema.
Support :- 18490, 18420, 18280
Resistance :- 18585, 18680
The market has consolidated for ample time. There are chance of a break down, if entered a bearish trade good target can be achieved.
Wait for the price action near the price levels before entering the market.
On the higher levels the market has given a bearish doji candle. There can be a double top formation as the market prevoiusly reversed from 18680 levels.
The market has given a rally of 1600 points in 2 months time. There will be a retracement before another up move.
Markets on the hourly charts, trading around 20 ema.
Support :- 18490, 18420, 18280
Resistance :- 18585, 18680
The market has consolidated for ample time. There are chance of a break down, if entered a bearish trade good target can be achieved.
Wait for the price action near the price levels before entering the market.
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