Nifty is very close to the 200 DMA at 4640 levels.
It will be a good spot to book shorts and consider a few longs.
A failure to touch the level today, would mean that the Nifty will have to visit again.
Generally according to the moving average rule, a break of 20 DMA should bring the 50 DMA, break of 50 should bring the 100 and a break of 100 DMA should bring the 200 DMA.
So a touch of 200 DMA is very neccessary as we have sustained below all the moving avaerages mentioned.
If we trade below the 200 DMA for 3 consecutive days, it would put the bears in business and the trend bearish for the Intermediate term.
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Shai or any member of the team at Vtrender may or may not hold positions in the aforementioned securities/ indices at the time of publication, although holdings can change at any time.
Under no circumstances does the information in this content represent a recommendation to buy or sell any security mentioned. All examples are provided for educational purposes only.
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Prior to buying or selling , you should read and understand the Characteristics and Risks involved.
Futures, Stock and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
Under no circumstances does the information in this content represent a recommendation to buy or sell any security mentioned. All examples are provided for educational purposes only.
Past performance is not indicative of future results.
Prior to buying or selling , you should read and understand the Characteristics and Risks involved.
Futures, Stock and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results.
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