Nifty daily analysis for 20/10/22
Nifty on the daily time frame has closed almost flat, giving another doji on the daily time frame.
The market has consolidated in the first half and sell off was there. During the final hour of the session the market again consolidated.
Nifty has taken a support from 17500 levels and filled the gap created by the gap up.
On 15 minute time frame, the market has closed below the 20 ema and traded just around the moving averages.
Support :- 17495, 17410, 17325
Resistance :- 17550, 17620, 17700
The market has consolidated whole day and a trending market can be seen tomorrow.
Wait for a price action near the levels before entering a trade.
Avoid early entries in case of gap ups/gap downs. As tomorrow is weekly expiry and premium decay can take away the profits.
The market has consolidated in the first half and sell off was there. During the final hour of the session the market again consolidated.
Nifty has taken a support from 17500 levels and filled the gap created by the gap up.
On 15 minute time frame, the market has closed below the 20 ema and traded just around the moving averages.
Support :- 17495, 17410, 17325
Resistance :- 17550, 17620, 17700
The market has consolidated whole day and a trending market can be seen tomorrow.
Wait for a price action near the levels before entering a trade.
Avoid early entries in case of gap ups/gap downs. As tomorrow is weekly expiry and premium decay can take away the profits.
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