Technically nifty is looking very weak on chart and every rally becomes a sell rally. The moving averages for long, mid and short term is trending in negative zones as can be seen under:
Moving averages (simple):
| 5 D | 8 D | 13 D | 20 D | 39 D | 50 D | 200 D |
| 5019 | 5034 | 5038 | 5006 | 5082 | 5194 | 5520 |
The various support and resistances level of nifty for today is asunder:
ReplyDeleteNSE LTP: 4867.75 R1:4922.13 S1:4821.48 R2:4976.52 S2:4775.22 R3:5022.78 S3:4720.83
Trade carefully with stopl losses.
If nifty trades below 4830 then nifty have potential to test on the low side 4740 which is 20 day lowest closing.
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