Nifty 50 under consolidation?
Nifty seems to be under consolidation zone.
I'll keep it simple without any complications and update you on a daily basis.
In this chart could see the and blue and red line. Blue indicates 20 EMA and red 50 EMA. I'm placing the resistance exactly near 20 EMA which our market respected today and support at 50 EMA.
Thus our resistance is 22080 and support level is 21860. Let the market break either side for a big move to happen. I'm guessing there would be clear tug between bears and bulls at these levels as you can see two dojis in the chart. I'm expecting a consolidation to happen in this zone for few days. Vix got down 13.5 I'd prefer selling over buying at this point.
I'll keep it simple without any complications and update you on a daily basis.
In this chart could see the and blue and red line. Blue indicates 20 EMA and red 50 EMA. I'm placing the resistance exactly near 20 EMA which our market respected today and support at 50 EMA.
Thus our resistance is 22080 and support level is 21860. Let the market break either side for a big move to happen. I'm guessing there would be clear tug between bears and bulls at these levels as you can see two dojis in the chart. I'm expecting a consolidation to happen in this zone for few days. Vix got down 13.5 I'd prefer selling over buying at this point.
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