Nifty daily analysis for 27/09/22
NIfty after touching the crucial level of 18000 has retraced back to the 17000 levels today.
Market remain in red whole day. After the initial gap down 170 points the markets closed 300+ points lower.
Nifty on the second consecutive day has fallen more than 1.5%.
On the hourly time frame, the market remained in a broader range and consolidated in it. Nifty took support from its 17000 levels and tried to regain some points but ended losing the gains.
The market took rejection from 20 ema on smaller time frame (15 minute time frame) and has closed just around the psychological support of 17000.
Support :- 16990-17000, 16920, 16840
Resistance :- 17280, 17230, 17160
Wait for a price action near the price levels before entering the markets.
Market remain in red whole day. After the initial gap down 170 points the markets closed 300+ points lower.
Nifty on the second consecutive day has fallen more than 1.5%.
On the hourly time frame, the market remained in a broader range and consolidated in it. Nifty took support from its 17000 levels and tried to regain some points but ended losing the gains.
The market took rejection from 20 ema on smaller time frame (15 minute time frame) and has closed just around the psychological support of 17000.
Support :- 16990-17000, 16920, 16840
Resistance :- 17280, 17230, 17160
Wait for a price action near the price levels before entering the markets.
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