NIFTY trying to regain weekly 21 EMA

٢٨ يناير ٢٠٢٢

NIFTY is moving up and is trying to regain the weekly 21 EMA level at 17330. A close above this today would be a victory for the bulls. A closing below this level might trigger a bigger correction towards 16500 levels. All important budget coming up on Tuesday 1st February has already led to some anticipatory buying in the market. Slightest disappointment should provide sufficient reason for a sell-off.
Levels - 17000 as support, 17900 as resistance for next week.