The momentum is back but "a follow up buying" should be seen. If not, it would be termed as the fake 'b' wave of the 4th wave with another move to "low ema" or lower to complete this correction closer to the channel bottom.
A complete "green" in the tech table and the 55 ema has moved above 55 sma to confirm the last bullish set up but the 13 ema has moved below 13sma and so too 5 period ema/sma - they should turn to green soon or else the short term could face weakness. (See them in the last few rows)
A complete "green" in the tech table and the 55 ema has moved above 55 sma to confirm the last bullish set up but the 13 ema has moved below 13sma and so too 5 period ema/sma - they should turn to green soon or else the short term could face weakness. (See them in the last few rows)
3 comments:
sir,
i am viewing this blog from last six months. you are doing very good work.
i want to know how high and low emas are calculated.
thank you.
Expected higher targets for the week are 5370,5400 and 5440.If Nifty breaches 5235 and stays below 5252 then NIFTY is weak.Then expected lower targets are 5210,5192 and 5130.
Regards-
Free Nifty Tips for Today
ILLANGO sir,
Your blog is an excellent one for
learning about the technicals. I came to know about
this last week only!
Thank you,
srikumar
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