Nifty finds itself in a maze of SMA and EMA cluster and so do many of its constituents indices.
Nifty is beautifully poised at a juncture where it can go upside, downside and remain sideways. Importat point is that the averages which were giving Nifty support in its last attempt to rally are now all poised to act as resistance. Daily 21EMA 5477, Daily 34SMA 5465, Daily 34EMA 5517 are all in position to give stiff resistance in coming monday. Daily 21 SMA 5445 has just barely managed to provide that last hope for bulls to keep them happy during weekends.
Nifty is beautifully poised at a juncture where it can go upside, downside and remain sideways. Importat point is that the averages which were giving Nifty support in its last attempt to rally are now all poised to act as resistance. Daily 21EMA 5477, Daily 34SMA 5465, Daily 34EMA 5517 are all in position to give stiff resistance in coming monday. Daily 21 SMA 5445 has just barely managed to provide that last hope for bulls to keep them happy during weekends.
On Nifty 30 min charts Nifty would find it extremey difficult to cross the Cluster of resistances between 5463 to 5484. Support in 30 min chart is coming at 5428
An inside day in Nifty weekly. Break of penultimate bar would decide the trend
India Vix is where the secret lies at the moment . It has just stopped short of breaking above the red trendline. Close above the red trendline can take it much higher and susequently Nifty lower.Moreover it has been at the lower end of the rising channel. Fearful days ahead.
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