Intraday study for Indian indices for 8th December 2022

 

Intraday study for Indian indices for 8th December 2022 by Harshit_Saxena on TradingView.com

https://www.tradingview.com/i/2O7v6RYB/

Hi Good Morning
yesterday the supports was broken by the market and tested the 18500-18550 range and the little bounce from these levels are shown and all the major stocks tested their breakout levels by trading near their levels and the banks looks comparatively strong and also in the global market the Nasdaq corrected future .5% breaching the levels of 11000 and 11500 on spot and futures which is a sign of caution because of the fed policy rates on recession issue Now we talk about the levels of Nifty and banknifty as today is the weekly expire then the session remains in consolidation and choppy


Nifty:--the support is at 18500 if broken the the 18300 is the level of support and the resistance is at 18650-18725-18777-18811 which remains unchanged along with 1 addition

Bank nifty:--
the support of bank nifty is at 32800-43100 and the resistance id at 43300-43500-43800 also remains unchanged

Sector and stocks :--
as the short covering comes in the market the best for bounce are Banks ,cement, FMCG crude oil plays and It is the last one to recover but very fast upmove in it for today be with sector leader i am not highlighting the Stocks

Disclaimer -- I may have some positions in some of highlighted stocks and this is only study for understanding purposed of the data and the patterns I am not saying anyone to buy any of these picks discussed here. I am not giving any trade just wrote my views after the data reading what i think about the market sentiments. I am not SEBI Registered