Nifty daily analysis for 12/04/23.
Nifty has been respecting the previous low in the intraday moment and has formed a doji on the daily time frame. It has started trading and sustaining above the moving averages.
The market has been trading in a range after a gap up. Wait for the market to cross below or above the previous day high or low and trade only once there is a break out or break down.
On the hourly time frame, the market has started closing above the moving averages and there is some bullish movement in the market.
Market has been moving in the bullish side and before another move there should be a retest of the levels.
Support :- 17665, 17610
Resistance :- 17765, 17820
Wait for the price action near the levels before entering the markets.
The market has been trading in a range after a gap up. Wait for the market to cross below or above the previous day high or low and trade only once there is a break out or break down.
On the hourly time frame, the market has started closing above the moving averages and there is some bullish movement in the market.
Market has been moving in the bullish side and before another move there should be a retest of the levels.
Support :- 17665, 17610
Resistance :- 17765, 17820
Wait for the price action near the levels before entering the markets.
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