If we look at the daily chart opf Nifty and include 377 EMA then we can see that this is a very strong moving average.
2008 / 2020 crisis happened when this EMA was broken.
Today Nifty is perfectly sitting at this EMA.
It can consolidate or we can now expect a huge fall which has not been witnessed till now. For that it will have to break its previous lows and check my other analysis which tells that Nifty might hit 13000 level by Sep this year.
The EMA you have mentioned shows that nifty went below the EMA on 27th June. According to your theory, can we expect nifty to plummet at 14000 in this year?
lucyleelucy
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@meetujugal, No one knows the bottom of the market.