Nifty technical analysis for 8th April 24

4月7日

Hello everyone👏

It's a new week's analysis..
On Friday 5th April it was gap down.. Still nifty hold support of 22430 & closed above 22500 levels successfully.

As long as nifty holding its major supports of 22430 - 22380...its a reversal and upside move intact.

Multi timeframe :-
1) In monthly momentum inclined... Trend bullish & rsi is also in bullish teritory.. Coming resistance 23200 ( pivot ) & support 22300 indecisive candlestick; price is above all moving averages. 22k & 21990 levels for trend change in higher tf.. Short term trend bullish.. In continuation.

2) In weekly tf also not any change, just a bullish hammer candlestick & rsi took support at 65 & inclined ( bullish)

3) In daily tf bearish diversion, bullish hammer candlestick, rsi flat, momentum inclined, coming resistance 22621 : 22665 : 22705, if nifty hold & closed above 22650/ 22700 then again 23 k will be new tgt.
Support - 22460 : 22410 : 22366 : 22306 : 22273 & 22231

4) In hourly tf.. Momentum inclined, rsi flat at 58..

5) and in 15 min price in range between 22520 & 22470..consolidate whole day..

Levels :-
Resistance - 22560 - 22620 & above 100 to 200 pts range open
Support - 22460 : 22376 : 22313 : 22267 .. Any reversal from these levels can give good pts.

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All levels and information provided here is only for educational purposes.
No buy / sell recommendations.
DYOA & make decisions.

Thank you🙏