Nifty has found support near 200/50 DMA yesterday and is still hovering above those levels. 50/200 DMA seems to be a good support - giving a Bullish Golden Cross again with 50DMA over the 200 DMA. So terminate the remaining shorts at current levels - 5100 NS. Aggressive Longs can be taken at the same levels with Stict SL at 5095 (below 200 DMA)EOD close. Today being expiry day - but four more trading days for the month to close - Bulls would try to close this month above the developing 5 EMA at 5150-55 levels.
The FALLING WEDGE( CLICK HERE) has broke out - and Holding the low of 5093 - Nifty Likely to move up to the Chanel Top - 5175 - last months 5 EMA.
Short below 5085 if EOD close is below 5090 NS - 200 DMA.
| CHECK LIST-DAY | |||
| CLOSE | 5110 | 5 SMA | 5133 |
| PIVOT | 5103 | 5EMA | 5148 |
| HI EMA | 5170 | 10EMA | 5180 |
| LOW EMA | 5125 | 13EMA | 5189 |
| prev HI | 5122 | 20 Hr MA | 5120 |
| prev LOW | 5077 | 50 Hr MA | 5175 |
| 50 DMA | 5099 | 100 Hr MA | 5227 |
| 100 DMA | 5159 | 200 Hr MA | 5202 |
| 200 DMA | 5098 |
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