Nifty is nearing 500 EMA of 5145 and also as shown in the chart below nifty has strong support at 5180-5200 levels. Technicals suggest markets could see a bounce from here. A 100-150 point bounce is likely on account of short covering. Markets have recently had quite a bit of negative new…
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Nifty nearing 500 EMA also near strong support at 5200 – Recovery of 150-200 points on Nifty possible.
Posted on: February 10th 2011 in Market News.
Nifty testing strong support at 200 DMA – 5615
Posted on: January 27th 2011 in Market News.
Nifty has been finding strong support at 200dma this entire month and has managed to bounce back from here time and again. If Nifty manages to close below this important support level of 5615 for couple of days, we could expect further downside in markets. Possibly upto 5500. On the upsid…
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