Tech View: Nifty ends above 21 EMA. What traders should do on Thursday

Tech View: Nifty ends above 21 EMA. What traders should do on Thursday

Nifty ended Wednesday with gains of 735.85 points or 3.36% and settled at 22,620.35 led by strong buying activity across sectors but more prominently in banks and autos. The 50-stock index ended above the downside channel support of 22,200. Analyst Ashwin Ramani, Derivatives & Technical Analyst at SAMCO Securities said call writers (bears) are exiting … Read more

Tech View: Nifty faces major hurdle at 21-DEMA. What traders should do next week

Tech View: Nifty faces major hurdle at 21-DEMA. What traders should do next week

Nifty on Friday ended 98 points higher to form an Inside Bar candlestick pattern on the daily chart. If the headline index manages to hold Thursday’s low of 21,932, a pullback looks possible to chartists. Last month, the index found support around 21,780 levels, and the 100-Days exponential moving average (DEMA) is placed near 21,820. … Read more