In last Idea posted on 27th july i had shared that nifty will touch 50DEMA before going further up. Now it has been holding 50DEMA for last couple of days and we can see a bounce for next week or so. After which buyers will be exhausted and nifty will again continue downtrend to touch 100DEMA which will be around 19000 then. For now upmove targets are 19600-650...
On daily candles, Nifty made a sharp top last week and today it gave a gap up closer to mid point of 'top day', where it faced resistance and now it is about to give closing below 20DEMA, should be going to touch 20DEMA (19495) soon. From there it might give a minor bounce next week and again initiate downtrend. Nifty is too far away from 200EMA and it is not...
