Nifty 50 IndexShort
Nifty- 100EMA breached, 16923 major support
Nifty made a big red candle breaching critical support level of 100EMA. DII -1376cr outsold FIIs -1157cr today , total selling of -2534cr sending markets in a downward spiral. Next major support is 16923 where this correction move should hopefully end.
PCR is at 0.43, oversold and indicates an imminent reversal. CPR is 76pts wide. A gap down opening will mean that CPR will act as a major resistance.
Pullbacks are seen as opportunity to sell which could take markets to lower levels. DIIs selling massively -if this continues-will support the downmove.
Let us see how markets act tomorrow.
PCR is at 0.43, oversold and indicates an imminent reversal. CPR is 76pts wide. A gap down opening will mean that CPR will act as a major resistance.
Pullbacks are seen as opportunity to sell which could take markets to lower levels. DIIs selling massively -if this continues-will support the downmove.
Let us see how markets act tomorrow.
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.