Nifty for the 2nd consecutive day closed below the 200 DMA of 4975.
This is the 2nd fall in last 4 yrs when the Nifty close is below the 200DMA. First was in the year 2006 June. Nifty took around 6 days to recover and close above the 200 DMA in June 2006. According to me this time also the Nifty will take some more to close above the 200 DMA.
As mentioned earlier that the Nifty resistance is at 4975 and the support is at 4780-4673. You may check the low and the high that was made. High of 4949 and low was 4820.
BUY RIL, RPL, REL CAPITAL, TATAPOWER, POWER GRID IN DECLINES for fast gains....
No comments:
Post a Comment