Nifty daily analysis for 03/02/23.

Nifty is taking support from the 200 ema. It is testing the 200 ema and there is a buying happening near the level.

The market has formed an inside candle and consolidated in a range whole day.

On the hourly charts, nifty rremained in first hour candle and closed near the 20 ema.

There was a bullish candle in the last hour of the session and being expiry market remained silent.

On the 15 minute time frame, market has closed between both the moving averages.

Market can give nice move either side as the market has consolidated whole day.

Support :- 17515, 17435
Resistance :- 17630-40, 17687

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