Nifty 50 IndexShort
Nifty - closed a tad below trend line, weak on indicators.
I am sure you remember this chart, the supportline has provided support to Nifty during earlier fall, last week. Today's closing is a little below this line.
Nifty RSI on day chart is below 50, Nifty closed way below 20 DEMA and a tad above 50 DEMA, which is placed at 12088.
On 9/34 EMA on index n RSI system, there is still some hope, 9&34 EMAs on Index are some 56 points apart, today Nifty closed below both of these, is surely a sign of weakness.
Again today, it was a news based selling, the bad news may continue to pour in....
I am taking small hedged trades at these levels, budget news may make market to register wild movements on newsflow.
Nifty RSI on day chart is below 50, Nifty closed way below 20 DEMA and a tad above 50 DEMA, which is placed at 12088.
On 9/34 EMA on index n RSI system, there is still some hope, 9&34 EMAs on Index are some 56 points apart, today Nifty closed below both of these, is surely a sign of weakness.
Again today, it was a news based selling, the bad news may continue to pour in....
I am taking small hedged trades at these levels, budget news may make market to register wild movements on newsflow.
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