Nifty
CMP 9593
Since the start of the year 2017, 20 day EMA (currently at 9573) has acted as support for Nifty extremely well. However in the last 2 occassions Nifty has breached 20 day EMA and recovered. And this is the 3rd time...
Imagine you are hitting a wall with a hammer... The wall may not break on the first attempt... even on the 2nd attempt... however continous hammering will lead to weakness in wall.... Well that's the situation with support at 20 day EMA now.
It supported firmly on 4 ocassions however with last 2 hits there appears to be a crack coming up... Its getting weaker...
May be it's time to test the big brother 50 day EMA (currently around 9420) and let that take care of Nifty...
Review your trading plan and plan your trade accordingly...!!!
Take care & safe trading...!!!
CMP 9593
Since the start of the year 2017, 20 day EMA (currently at 9573) has acted as support for Nifty extremely well. However in the last 2 occassions Nifty has breached 20 day EMA and recovered. And this is the 3rd time...
Imagine you are hitting a wall with a hammer... The wall may not break on the first attempt... even on the 2nd attempt... however continous hammering will lead to weakness in wall.... Well that's the situation with support at 20 day EMA now.
It supported firmly on 4 ocassions however with last 2 hits there appears to be a crack coming up... Its getting weaker...
May be it's time to test the big brother 50 day EMA (currently around 9420) and let that take care of Nifty...
Review your trading plan and plan your trade accordingly...!!!
Take care & safe trading...!!!
Trade closed: target reached
