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.
It may now dip down to 50-SMA which is 10250 or thereabouts. The very thought is frightening!
jdjoshdias
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@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.