Nifty daily analysis for 04/07/23.
For the last 4 trading session, market has been giving gap up and showing positive momentum.
On the daily charts, market again has given 130 points move. The market remained in the first hour candle and gave close near the day high.
There are less opportunity for intraday traders as the gap up take away the move. The time is for the positional and swing traders.
On 15 minutes chart, nifty took support from the 20 ema and formed a box consolidation.
Support :- 19260, 19000
Resistance :- 19340
Market are moving in the first half and is consolidating in the last. Small target should be taken as big move are difficult after a gap up.
Wait for the price action near the levels before entering the market.
On the daily charts, market again has given 130 points move. The market remained in the first hour candle and gave close near the day high.
There are less opportunity for intraday traders as the gap up take away the move. The time is for the positional and swing traders.
On 15 minutes chart, nifty took support from the 20 ema and formed a box consolidation.
Support :- 19260, 19000
Resistance :- 19340
Market are moving in the first half and is consolidating in the last. Small target should be taken as big move are difficult after a gap up.
Wait for the price action near the levels before entering the market.
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