Nifty daily analysis for 11/10/22
Nifty on the daily time frame has given a nice bullish candle after initial gap down.
The market remained in a bullish moment in the initial hour of the session and consolidated in the second half of the session.
On the 15 minute time frame, the moving averages are close enough and both the moving averages are around 17212.
The market is still in the confusion and clear trend is not defined .
Support :- 17230, 17170, 17070
Resistance :- 17260, 17300, 17360
The market is taking support from 50% Fibonacci level on the daily candle. If the market closes above the 20 ema on the daily time frame, the market can give a nice up move.
Wait for a price action near the price levels before entering the markets.
The market remained in a bullish moment in the initial hour of the session and consolidated in the second half of the session.
On the 15 minute time frame, the moving averages are close enough and both the moving averages are around 17212.
The market is still in the confusion and clear trend is not defined .
Support :- 17230, 17170, 17070
Resistance :- 17260, 17300, 17360
The market is taking support from 50% Fibonacci level on the daily candle. If the market closes above the 20 ema on the daily time frame, the market can give a nice up move.
Wait for a price action near the price levels before entering the markets.
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