**Nifty 50 Market Analysis for 09/10/23**
**Support Levels:** 19600/19480
**Resistance Levels:** 19750/19800 (big resistance)
**Market Outlook:**
Nifty 50 is likely to open gap-up above 19700 today, based on the strong finish on Friday. However, it is important to note that the market is facing resistance at 19750/19800. If the market is unable to cross and sustain above 19750, it could retrace to the support levels at 19600/19480.
On the downside, a breakdown below 19600 could signal a further decline in Nifty 50. However, it is important to note that the overall trend in Nifty 50 is bullish. Therefore, any dips in the market could be seen as an opportunity to buy.
**Trading Strategy:**
* If the market opens gap-up above 19700, wait for a retest or a sustained 15-minute green candle before taking a bullish position.
* On the downside, wait for a breakdown below 19600 before taking a bearish position.
**Risk Management:**
It is important to always trade with a stop loss and to risk only a small percentage of your capital on any given trade.
**Disclaimer:**
This is not financial advice. Please do your own research before making any trading decisions.
**Support Levels:** 19600/19480
**Resistance Levels:** 19750/19800 (big resistance)
**Market Outlook:**
Nifty 50 is likely to open gap-up above 19700 today, based on the strong finish on Friday. However, it is important to note that the market is facing resistance at 19750/19800. If the market is unable to cross and sustain above 19750, it could retrace to the support levels at 19600/19480.
On the downside, a breakdown below 19600 could signal a further decline in Nifty 50. However, it is important to note that the overall trend in Nifty 50 is bullish. Therefore, any dips in the market could be seen as an opportunity to buy.
**Trading Strategy:**
* If the market opens gap-up above 19700, wait for a retest or a sustained 15-minute green candle before taking a bullish position.
* On the downside, wait for a breakdown below 19600 before taking a bearish position.
**Risk Management:**
It is important to always trade with a stop loss and to risk only a small percentage of your capital on any given trade.
**Disclaimer:**
This is not financial advice. Please do your own research before making any trading decisions.