#nifty50 Below 200EMA, Inside bar candle
Nifty made a Doji candle and also an inside bar setup. Nifty also closed below 50/100/200EMA. PCR at 0.57 indicates fear of the downside. Vix at 29.23 indicates nervousness continues. Till the global uncertainty is settled, index will move violently and will lack strength to move decisively. News will be the major trigger. Nifty should tread lower and levels below 16200 could be tested. FII/DIIs net selling of 1277cr will also prevent any chance of lasting correction. CPR tomorrow is narrow and a downward trending market can be expected. What do you think?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.