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

Tech View: Nifty may stage minor pullback. What traders should do on Friday

Tech View: Nifty may stage minor pullback. What traders should do on Friday

Nifty ended Thursday expiry weaker by 345 points as the index broke below both the lower boundary of its upward channel and the support of the 50-day exponential moving average (DEMA) around the 22,150 level. The daily chart saw the formation of a long negative candle. Nifty has been in a larger range movement of … Read more