Nifty daily analysis for 03/10/23.
Nifty is holding the upper levels on the higher time frame is taking a good support around 19250 levels.
The index has formed a gravestone doji on the monthly charts and for last three months, its trading above 19000 levels.
On the weekly charts, market has shown some retracement after a good up move and has closed above the golden fibonacci levels, forming a neutral doji.
Nifty is trading below the 20 ema, on daily charts, and is facing resistance from the levels. It has formed an inside candle or mother baby candle.
It is holding the levels and is giving close around the same levels. There are high chance of a trending week or month as the charts suggests.
The market is taking a halt and there are high chance of market giving either side move. Watch the market levels before planning a trade as there is no clear trade for an intraday trader.
On the hourly charts, market is trading below both the moving averages and has formed a bearish moving averages cross over.
Support :- 19500, 19250
Resistance :- 19730, 19850
Wait for the price action near the levels before entering the market.
The index has formed a gravestone doji on the monthly charts and for last three months, its trading above 19000 levels.
On the weekly charts, market has shown some retracement after a good up move and has closed above the golden fibonacci levels, forming a neutral doji.
Nifty is trading below the 20 ema, on daily charts, and is facing resistance from the levels. It has formed an inside candle or mother baby candle.
It is holding the levels and is giving close around the same levels. There are high chance of a trending week or month as the charts suggests.
The market is taking a halt and there are high chance of market giving either side move. Watch the market levels before planning a trade as there is no clear trade for an intraday trader.
On the hourly charts, market is trading below both the moving averages and has formed a bearish moving averages cross over.
Support :- 19500, 19250
Resistance :- 19730, 19850
Wait for the price action near the levels before entering the market.
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