Nifty daily analysis for 02/08/23.

Nifty has given a flat closing after gap opening and remained jittery through out the trading session.

There was a profit booking initially and after that neither buyers nor sellers took over and formed doji after doji.

On the hourly time frame, market took support from the 20 ema and closed near the levels.

Market took money of option buyers and consolidated whole day just cutting option premiums of both call and put.

On 15 minute charts, it has closed above both the moving averages and has closed near to a support zone.

Support :- 19720, 19650
Resistance :- 19790, 19860

Market hasn't moved either side in previous trading sessions and there are chances of market giving a nice move either side.

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