Nifty: Will there be more gain or more pain?
Nifty
Observations
- Nifty has seen a good swift 1000 point recovery from the recent lows
- currently trading below 200 EMA and near 50 day EMA
- 1st time Nifty broke 200 day EMA, it recovered quickly
- 2nd time it broke, it recovered and halted at 200 day EMA
- now it is below 200 day EMA and trading near 50 day EMA
- Nifty getting resisted at 50 day EMA might indicate weakness has gripped the market and it might suggest more pain in the next couple of months.
- doors are still open for a fall up to 14400 odd levels
This is a positional view and not necessarily for this month. Pls read the disclaimer
Best wishes
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Observations
- Nifty has seen a good swift 1000 point recovery from the recent lows
- currently trading below 200 EMA and near 50 day EMA
- 1st time Nifty broke 200 day EMA, it recovered quickly
- 2nd time it broke, it recovered and halted at 200 day EMA
- now it is below 200 day EMA and trading near 50 day EMA
- Nifty getting resisted at 50 day EMA might indicate weakness has gripped the market and it might suggest more pain in the next couple of months.
- doors are still open for a fall up to 14400 odd levels
This is a positional view and not necessarily for this month. Pls read the disclaimer
Best wishes
Take care & safe trading...!!!
Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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