Nifty daily analysis for 12/01/23.

The market consolidated whole after the initial up move and formed a doji on the daily basis.

On the hourly chart, the market took resistance from the 20 ema and closing flat near the support of 17880.

There was a huge volatility and traded in a 50 points range in the second half making trouble for the option buyers.

On the 15 minutes chart, the market traded around the 20 ema.

Support :- 17880, 17800
Resistance :- 17930, 17970, 18030

The market has consolidated and a nice trending market can be seen tomorrow on the expiry.

Wait for the price action near the price level before entering the market.