Father line of 200 Hours EMA at 24212 has not yet allowed Nifty to fly freely up and above. today again like yesterday we got a closing below at 24194. Overall it was a flat day with positive movements mainly in IT, FMCG, media and Small Cap index.
Once we get a closing above 24212 the next resistance will be at 24360, 24530, 24673 and 24893. After closing above 24893 Nifty has a chance to be in proper Bullish grip. Supports for Nifty on the lower side remain at 24135, 23948 and 23912 (Major Mother line Support of 50 Hours EMA). Below 23912 bears can drag Nifty to 23616, 23362 and finally 23250. Below 23250 Nifty can have a free fall into strong bearish territory.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Once we get a closing above 24212 the next resistance will be at 24360, 24530, 24673 and 24893. After closing above 24893 Nifty has a chance to be in proper Bullish grip. Supports for Nifty on the lower side remain at 24135, 23948 and 23912 (Major Mother line Support of 50 Hours EMA). Below 23912 bears can drag Nifty to 23616, 23362 and finally 23250. Below 23250 Nifty can have a free fall into strong bearish territory.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.