Nifty weekly analysis for 13/02/23.
Nifty has consolidated whole week and formed a doji on the weekly charts. It has been taking resistance from 20 ema and 61.8% fibonacci levels.
The market can either side move once it breaks out or break down of the consolidation zone.
On the hourly charts, the market has been trading between both the moving averages and closed in between them.
Markets have not moved much and formed doji after doji on the daily charts.
Market tried to cross the resistance level of 17890 but opened gap down the very next trading session.
Support :- 17810, 17710
Resistance :- 17890, 17940, 18000
The market can give nice movement either side.
Wait for the price action near the levels before entering the markets.
The market can either side move once it breaks out or break down of the consolidation zone.
On the hourly charts, the market has been trading between both the moving averages and closed in between them.
Markets have not moved much and formed doji after doji on the daily charts.
Market tried to cross the resistance level of 17890 but opened gap down the very next trading session.
Support :- 17810, 17710
Resistance :- 17890, 17940, 18000
The market can give nice movement either side.
Wait for the price action near the levels before entering the markets.
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