Nifty view for 17/08/22.
Nifty has been creating gaps and is running higher and higher.
The markets are opening gap up and consolidating. There is no intraday trades in the market for a while.
Option selling seems to suit in this kind of a market as option buying can cause a serious damage to the funds.
The market has given a close above 17800 and on the hourly analysis, market tried but couldn't cross its today high.
A retracement is must to continue the up move.
A serious support of 20 ema is there on 15 minute chart. Once it breaks the level, nifty can retest and get prepare for another upmove
support :- 17770, 17700, 17630
Resistance :- 17833, 18000
Wait for the price action before trading the markets.
The markets are opening gap up and consolidating. There is no intraday trades in the market for a while.
Option selling seems to suit in this kind of a market as option buying can cause a serious damage to the funds.
The market has given a close above 17800 and on the hourly analysis, market tried but couldn't cross its today high.
A retracement is must to continue the up move.
A serious support of 20 ema is there on 15 minute chart. Once it breaks the level, nifty can retest and get prepare for another upmove
support :- 17770, 17700, 17630
Resistance :- 17833, 18000
Wait for the price action before trading the markets.
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