The support zone of 17250 to 17560 needs to hold for now.
Today' Nifty has started with a gap down, the bias seems to be shifting downward.
Closing below 17250, may most likely take nifty to quickly test the two lower support levels. The 200dma range seems very doable for now.
Crossing and sustaining above 17600, will invalidate the move below.
Majorly, the next 4 to 6 weeks ahead look volatile.
Today' Nifty has started with a gap down, the bias seems to be shifting downward.
Closing below 17250, may most likely take nifty to quickly test the two lower support levels. The 200dma range seems very doable for now.
Crossing and sustaining above 17600, will invalidate the move below.
Majorly, the next 4 to 6 weeks ahead look volatile.
Komentarz:
After a deep pullback, the downward momentum is back.
Nifty made an attempt to cross over 17600 on 13th Dec. That gap up opening move was promptly rejected with strong selling. For now the 200DMA range at 16200 looks very much in sight.
Nifty made an attempt to cross over 17600 on 13th Dec. That gap up opening move was promptly rejected with strong selling. For now the 200DMA range at 16200 looks very much in sight.
At least another 5% downside on the nifty looks highly probable. The target of 16k could well be achieved in the coming week itself. Keeping fingers crossed.