Nifty view for 02/05/22.
Nifty has been trading in a range and has formed an inside candle on weekly time frame and has closed below the 20 ema.
On a daily time frame, market has formed a bear engulfing pattern and seems bearish.
The markets on the last trading day had dropped around 1% in a single 15 minute time frame.
The market on multiple time frame has closed below the 20 ema.
Support :- 17090, 17000, 17950
Resistance :- 17150, 17210, 17320
The market has been volatile and can remain the same for the coming week.
Wait and watch for the price action near the levels.
On a daily time frame, market has formed a bear engulfing pattern and seems bearish.
The markets on the last trading day had dropped around 1% in a single 15 minute time frame.
The market on multiple time frame has closed below the 20 ema.
Support :- 17090, 17000, 17950
Resistance :- 17150, 17210, 17320
The market has been volatile and can remain the same for the coming week.
Wait and watch for the price action near the levels.
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