Nifty daily analysis for 31/03/23.
Nifty has been trading in a range for last 4 trading days, finally giving a close above the 17k levels but still trading near the resistance zone.
The market on the hourly charts, is showing a higher high higher low formation and the halt candle are showing some trend reversal signals.
The market on the expiry day has given a nice upside movement. There are resistances and there will slow moment as the general bull market shows.
On 15 minutes time frame, the market has formed a double top formation near the 200 ema and in the last hour has given a break out and closed above it.
Support :- 17050, 16920
Resistance :- 17200, 17300-20
Wait for the price action near the price level before entering the market.
The market on the hourly charts, is showing a higher high higher low formation and the halt candle are showing some trend reversal signals.
The market on the expiry day has given a nice upside movement. There are resistances and there will slow moment as the general bull market shows.
On 15 minutes time frame, the market has formed a double top formation near the 200 ema and in the last hour has given a break out and closed above it.
Support :- 17050, 16920
Resistance :- 17200, 17300-20
Wait for the price action near the price level before entering the market.
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