Nifty weekly analysis for 26/09/22.
NIfty on the weekly time frame has formed a grave stone doji and formed a triple top pattern.
The market on the daily time frame has given a nice bearish candle and lost 300 points. NIfty has closed below its 20 DMA.
There is a bearish moving average cross over on hourly charts. Last trading session was a one side moment and there are all negative candle.
The global market are negative. Dow lost around 500 point and closed below 30k level.
On 15 minute time frame, the market took a rejection from its 20 ema and traded just below the levels.
Support :- 17280, 17230, 17160
Resistance :- 17360, 17415, 17480-500
Indian market are still in a good territory as compare to the global markets.
There is a huge sell off in the global markets. Nifty may remain in a negative trend.
Wait for a price action near the price levels before entering the markets.
The market on the daily time frame has given a nice bearish candle and lost 300 points. NIfty has closed below its 20 DMA.
There is a bearish moving average cross over on hourly charts. Last trading session was a one side moment and there are all negative candle.
The global market are negative. Dow lost around 500 point and closed below 30k level.
On 15 minute time frame, the market took a rejection from its 20 ema and traded just below the levels.
Support :- 17280, 17230, 17160
Resistance :- 17360, 17415, 17480-500
Indian market are still in a good territory as compare to the global markets.
There is a huge sell off in the global markets. Nifty may remain in a negative trend.
Wait for a price action near the price levels before entering the markets.
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