Nifty at 20 DEMA takes Resistance or Breaks Above ?.
Nifty view for upcomming week what a firday we had rallied 500 plus points supported by IT, Pharma,Realty ,Banks and China also added to fuel up the rally ,Investors taken out money from china put into Indiana market.
For the next week view both Nifty and Banknifty at and under 20 DEMA on daily front ,we are still 9 % down from recent high's 50 and 100 DEMA about to cross over if that happens most of the time structure follows to downside since dema's are above price anticipation is to down side.
Key levels to watch for :-
24100,24300,24400 above
23500 and 23300 below
How to recognise DEMA's on chart posted.
Green line 20 DEMA
Red line 50 DEMA
Blue line 100 DEMA
White line 200 DEMA
For the next week view both Nifty and Banknifty at and under 20 DEMA on daily front ,we are still 9 % down from recent high's 50 and 100 DEMA about to cross over if that happens most of the time structure follows to downside since dema's are above price anticipation is to down side.
Key levels to watch for :-
24100,24300,24400 above
23500 and 23300 below
How to recognise DEMA's on chart posted.
Green line 20 DEMA
Red line 50 DEMA
Blue line 100 DEMA
White line 200 DEMA
Note
24100 above sustains targets to higher side are 24300 and 24400. And watch for rejection on these levels .
23600 below sustains targets below are 23500,23300,23200,23k. And watch for rejection on 23600 to 23500 area long again if held there
Note
As mentioned 24300 to 24400 watch for rejection
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