Nifty daily analysis for 09/02/23.
Nifty has given a nice bullish candle on the daily closing and gain 150 points. The market has closed near a resistance zone and if the market crosses and sustain above the levels, bullish trades can be initiated.
On the hourly time frame, market has closed between both the moving averages. After the initial up move the market has consolidated and nice trending market can be there on the expiry.
The market has consolidated and formed a flag and pole pattern. Nifty took support from the 20 ema on 15 minutes charts.
Support :- 17830, 17740
Resistance :- 17890, 17940
If the market crosses above 18k level and sustain positional bullish trades can also be taken.
Wait for the price action near the price level before entering the markets.
On the hourly time frame, market has closed between both the moving averages. After the initial up move the market has consolidated and nice trending market can be there on the expiry.
The market has consolidated and formed a flag and pole pattern. Nifty took support from the 20 ema on 15 minutes charts.
Support :- 17830, 17740
Resistance :- 17890, 17940
If the market crosses above 18k level and sustain positional bullish trades can also be taken.
Wait for the price action near the price level before entering the markets.
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