jdjoshdias

Nifty to fall till 10,000

Short
NSE:NIFTY   Nifty 50 Index
Nifty has a monthly close below 20EMA for FEB 2020.
I made a post about this in Oct 2019. I expect history to repeat itself, may not be exactly similar but using the past as a framework.

What does the EMA symbolize?
Why is it such a good support?

If we break below are we looking at further corrections of 10-15%
In Jan 2016 EMA was around 7800, we hit lows of 6800 before moving up.

Comments

It may now dip down to 50-SMA which is 10250 or thereabouts. The very thought is frightening!
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jdjoshdias sanketsudan
@sanketsudan, Very true.. however I have been bearish on the market since last year. Nifty has been trading above its historic PE average. Sad thing the market will result in loss of human lives.
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