Nifty 50 view for next week 29/05/23.
Nifty on the weekly time frame has given a nice bullish candle and has closed above the resistance zone. It has consolidated for 2 week in the range and has given a break out.
The market has formed a good bullish pattern on the daily time frame as it has taken a support from the 61.8 fib level. The market has been taking support from the 20 ema.
On the hourly chart, market has remained bullish in the last trading session.
Bullish entry can be initiated if the market sustains above 18450 levels.
Support :- 18450, 18280, 18090
Resistance :- 18680-700, 18870
Positional and swing trades can be initiated once the market retest the resistance zone.
Wait for the price action near the levels before entering the levels.
The market has formed a good bullish pattern on the daily time frame as it has taken a support from the 61.8 fib level. The market has been taking support from the 20 ema.
On the hourly chart, market has remained bullish in the last trading session.
Bullish entry can be initiated if the market sustains above 18450 levels.
Support :- 18450, 18280, 18090
Resistance :- 18680-700, 18870
Positional and swing trades can be initiated once the market retest the resistance zone.
Wait for the price action near the levels before entering the levels.
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