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Moving_average

Critical view on Nifty !!!!Nifty after a major fall was under base building formation for around 21 days with rising RSI i.e. positive divergence, and finally we saw breakout from the base on Monday with a gap and also successfully breached above 20DEMA which was an indication of exhaustion for the prior trend. But, after 20DEMA we were witnessing resistance @50DEMA since last three days but it seems that market could leap over 50DEMA with a gap same like in case of 20DEMA above which the doors of 17000 will be open. Long above 50DEMA with stop of 20DEMA for target of 16952 to 17100.
NSE:NIFTYLong
by Chaser30