mr-sky

Analysis of Nifty 27-11-2020

Short
NSE:NIFTY   Nifty 50 Index
Today Nifty traded on the flat note between 12,940 and 13,000 levels. On a daily chart , it made a hanging man candlestick pattern that indicates the nifty may correct in few trading session. Historically, the nifty has taken the support of 21DEMA so nifty is likely to take support at 21DEMA. If nifty breaks the 21DEMA than nifty can go up to 12,428. 40 levels. RSI closed at 67.49 just below the overbought zone.

Trade,
Sell near 12,970-12930 levels SL above 13,050 levels