Nifty weekly analysis for last week of June (26/06/23).
Nifty has almost touched the high and given a marabozu candle on the weekly charts. The market on the higher time frame is forming a double top pattern.
Market, on the daily time frame, is taking support from the 20 EMA and has closed below the recent support level of 18680. If the fall continues, there are chances of market testing 18500 levels.
In the last trading session, nifty traded inside the first hour candle and closed between both the moving averages, on hourly charts.
There is a bearish moving averages cross over, on 15 minutes charts.
Supports and resistances are close by and market is yet to decide the trend. June session was all in a confusion state and only last week is left.
Support :- 18615, 18560
Resistance :- 18760, 18890
Nifty has consolidated in the range for 10 days. Break down will pull the markets down to lower levels and even the Global markets are showing some negativity.
Wait for the price action near the levels before entering the market.
Market, on the daily time frame, is taking support from the 20 EMA and has closed below the recent support level of 18680. If the fall continues, there are chances of market testing 18500 levels.
In the last trading session, nifty traded inside the first hour candle and closed between both the moving averages, on hourly charts.
There is a bearish moving averages cross over, on 15 minutes charts.
Supports and resistances are close by and market is yet to decide the trend. June session was all in a confusion state and only last week is left.
Support :- 18615, 18560
Resistance :- 18760, 18890
Nifty has consolidated in the range for 10 days. Break down will pull the markets down to lower levels and even the Global markets are showing some negativity.
Wait for the price action near the levels before entering the market.
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