Nifty on the daily time frame has formed a dragon fly doji and closed near the previous resistance area.
Both the index were in different directions. Banknifty closed 100 points lower and nifty closed 40 points higher.
In the first hour, after the gap up opening, tested the 18700 levels and after hitting the support area, slowly gained points.
On the hourly charts, the market is still trading above the moving averages and is sustaining above it.
Support :- 18700, 18630
Resistance :-18770, 18890
Market has consolidated for few days and tomorrow being a weekly expiry can give a nice move either side.
Wait for the price action near the levels before entering the market.
Both the index were in different directions. Banknifty closed 100 points lower and nifty closed 40 points higher.
In the first hour, after the gap up opening, tested the 18700 levels and after hitting the support area, slowly gained points.
On the hourly charts, the market is still trading above the moving averages and is sustaining above it.
Support :- 18700, 18630
Resistance :-18770, 18890
Market has consolidated for few days and tomorrow being a weekly expiry can give a nice move either side.
Wait for the price action near the levels before entering the market.
