Nifty: How September series start looks like

NSE:NIFTY   Nifty 50 Index
19480-19460 played a vital role in Aug series and so did 19385 in the last 2 trading days.

Directional trade can be taken once Nifty decisively breaks 21 day EMA or 50 day EMA. A few days back when Nifty closed below 50 day EMA, it bounced back immediately. Now again Nifty has broken the 50 day EMA on Expiry day. Is this a knee jerk reaction or is the breakdown real this time.

If Nifty struggles to go past 19320 odd levels on the upside then it could indicate Bears trying to make a grip on the market. On the flip side, avoid selling above 19320 odd levels.

Till the time Nifty is below 50 day EMA, chance of downfall towards 19030 / 18951 odd levels is on a higher side.

Important levels which may act as Support and resistance for the day
Imp levels on the upside 19320 / 19438 / 19487
Imp levels on the downside 19193 / 19152 /19080

Take care & safe trading...!!!


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