Nifty- Resistance at 50EMA, downward channel
Nifty closed with a green candle BUT
>>closed below the upper channel resistance
>>Closed below prev day close and
>>Closed below the 50EMA, taking resistance at 50EMA.
We could see selling pressure- due to profit booking and also FIIs could resume cash sales which they didnt do much on friday. Fingers crossed and let us watch out for the levels already marked on the chart.
There is a gap to be filled on the downside as well.
Retail investors could do well by investing selectively in momentum stocks and booking profits where-ever the opportunity is there. Till the markets show clear signs of recovery. What do you think?
>>closed below the upper channel resistance
>>Closed below prev day close and
>>Closed below the 50EMA, taking resistance at 50EMA.
We could see selling pressure- due to profit booking and also FIIs could resume cash sales which they didnt do much on friday. Fingers crossed and let us watch out for the levels already marked on the chart.
There is a gap to be filled on the downside as well.
Retail investors could do well by investing selectively in momentum stocks and booking profits where-ever the opportunity is there. Till the markets show clear signs of recovery. What do you think?
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