Nifty daily analysis for 09/11/22.

The global markets are showing some positivity and hope that Indian market too will show a gap up opening.

SGX nifty is trading around 18400 levels and there is a possibilty to make new ATH.

Nifty on the daily time frame has given a dragon fly doji and closed above 18200 levels.

In the last trading session the market has filled a gap and on the hourly time frame, it has tested its 20 ema.

There was a nice up move after testing the moving average.

On 15 minutes time frame, nifty has given a nice move in the last hour of the session.

Support :- 18100, 18050, 18000
Resistance :- 18255, 18310, 18500

The market can create new ATH as Dow has started trading above 33k levels. Nifty can gap up 100-150 points.

If the market remain in the bullish move even after gap up, bullish trades can be carried. (Carry only options of next week expiry).

Wait and watch for the price action near the levels before creating new positions.