Nifty daily analysis for 29/11/22.

Nifty on the daily time frame has formed a bullish engulfing candle and touched its ATH.

On the hourly time frame, the market tested the 20 ema and from the first hour remained in the buying side.

The market after touching the ATH retraced closed only 50 points higher.

Even, on 15 minute time frame, the market tested the 20 ema and closed below the levels.

Support :- 18535, 18450
Resistance :- 18600-10

The market has tested the highs and can create new highs.

Wait for the price action near the levels before entering the markets.