Nifty has formed a hanging man candle and is just 40 points down.
The nifty crossed previous day high and retested the support of 15690.
Though market has tested its 15 minute 20 ema but couldn’t sustain above it at day closing and closed below it.
The market may remain bearish or consolidate in a narrow range.
Support:- 15690, 15625
Resistance:- 15850, 16020
Wait for the price action near the levels before trading the markets.
The nifty crossed previous day high and retested the support of 15690.
Though market has tested its 15 minute 20 ema but couldn’t sustain above it at day closing and closed below it.
The market may remain bearish or consolidate in a narrow range.
Support:- 15690, 15625
Resistance:- 15850, 16020
Wait for the price action near the levels before trading the markets.
