Nifty view for 06/05/22.
Nifty has again taken resistance from it 200 ema on daily time frame but has not traded below the previous day low.
It has been respecting th support of 16600.
There is a bullish divergence of RSI on hourly time frame.
Market can consolidate or fall further.
Support :- 16600, 16480
Resistance :- 16837, 16940
The market is respecting is support and resistances.
Markets are in a bearish mode.
Wait for price action near the levels before entering the markets.
It has been respecting th support of 16600.
There is a bullish divergence of RSI on hourly time frame.
Market can consolidate or fall further.
Support :- 16600, 16480
Resistance :- 16837, 16940
The market is respecting is support and resistances.
Markets are in a bearish mode.
Wait for price action near the levels before entering the markets.
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