Nifty daily analysis for 10/11/22(weekly expiry)

Nifty after a gap up remained for selling and closed 45 points lower.

The markets are still volatile as its unable to closing convincingly above the 18200 level.

There is a downtrend formation on the hourly time frame, and markets have closed below the 20 ema.

Even on the smaller time frame, the markets have taken resistance from the moving average and closed aroung 18120 level.

Support :- 18100, 18050, 18000
Resistance :- 18200, 18255, 18310

Volatility will cut the profits as tomorrow is weekly expiry.

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