Nifty Closes above Red trendline on daily charts but closes just below on Pink trendline shown in the black circle drwan on daily charts. Key here is that 200 DEMA is at 5601 and its very very important for Nifty to close above it comfortable for a robust upmove.
Weekly charts show Nifty still in a down channel with 21 EMA 5653 and 34 EMA 5625 posing as big resistances
30Min charts hsow the black trendline formed from higher bottoms made is at 5460 which is also 34 EMA of 30 min. Any downfall to gather steam should conquer this with force, however 21 EMA of 30 min at 5505
An exciting week ahead. Don't be bear or bull but be on right side of market. Happy Weekend.
Weekly charts show Nifty still in a down channel with 21 EMA 5653 and 34 EMA 5625 posing as big resistances
30Min charts hsow the black trendline formed from higher bottoms made is at 5460 which is also 34 EMA of 30 min. Any downfall to gather steam should conquer this with force, however 21 EMA of 30 min at 5505
An exciting week ahead. Don't be bear or bull but be on right side of market. Happy Weekend.
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