Nifty 50 IndexLong
Nifty took support at the trendline+200 EMA support as expected
As it was expected and depicted in our message yesterday Nifty took support at the trendline+200 EMA support making a low of 21860 and closing at 21982 making a high of 22060. We had mentioned as 22053 as resistance in case of bounce. The resistance of Mother line, 50 EMA forced the Nifty down again.(As shown in the encircled portion in the chart). This is how Technical analysis works and helps us with market and related predictions.
Future supports for Nifty: 21860, 21872 (200 Hours EMA), 21824 and 21674.
Future Resistance for Nifty: 22056 (50 Hours EMA), 22152 and 22229.
Future supports for Nifty: 21860, 21872 (200 Hours EMA), 21824 and 21674.
Future Resistance for Nifty: 22056 (50 Hours EMA), 22152 and 22229.
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