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At 11.50AM: Closing below 4585 at 12.00Noon will bring in short term weakness.
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Larger trend namely Daily & Weekly likely to prevail over the OB hourly and will negate the -ve div of 5 minute time frame..
3 comments:
Sir..just trying to understand by following the tech table..with this correction ongoing currently...nifty is currently trading below 5 hr ema ..but is above 5day ema..can we expect correction to continue to 4400 levels tommorow ...or the liqudity will again bring a huge rally tom
hi..Shaq,
As of now, the "Day High ema" is 4541 and the "Day Ema" is around 4475. Closing below 4541 will weaken the daily momentum. However, only a close below 4475 will give a daily sell signal.
Nifty can attempt to go between "Thu-Fri Lows" of 4427-4505. So sub 4500 is possible..
Best regards.
ilango
thank you sir..will keep the levels in mind
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