Nifty view for 16/08/22.
Nifty on the weekly time frame has been following a resistance zone, this is the fourth time the zone is being tested.
The market on the daily time frame is consolidating and a trending market is pending, if the market crosses the resistance zone it can touch the new highs. Wait for the daily candle to close above the levels.
On the 15 minute time frame, the market traded near the 20 ema and has closed just above the level.
support :- 17630, 17540
Resistance :- 17710, 17790
Wait for the price action before trading the markets.
A swing trade can be initiated, if a daily candle closes above the trendline.
The market on the daily time frame is consolidating and a trending market is pending, if the market crosses the resistance zone it can touch the new highs. Wait for the daily candle to close above the levels.
On the 15 minute time frame, the market traded near the 20 ema and has closed just above the level.
support :- 17630, 17540
Resistance :- 17710, 17790
Wait for the price action before trading the markets.
A swing trade can be initiated, if a daily candle closes above the trendline.
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