Bank nifty and nifty gave a nice move and foemed a bullish engulfing candle.
The moving averages (20 and 200ema) are close enough.
The smaller time frame bearish trend seems to be over and market can carry the moment further.
On 15 minute analysis, the market has pushed above its 20 ema and has closed around 36800.
Support :- 36475, 36300
Resistance :- 36900, 37160
Wait and watch the price action near the levels before trading the market.
The moving averages (20 and 200ema) are close enough.
The smaller time frame bearish trend seems to be over and market can carry the moment further.
On 15 minute analysis, the market has pushed above its 20 ema and has closed around 36800.
Support :- 36475, 36300
Resistance :- 36900, 37160
Wait and watch the price action near the levels before trading the market.
