50 EMA is a big Resistance proven again
Amongst the massive positive momentum and interest generated yesterday after a closing at 17352 leaping a massive 509+ points in all probabilities it looked that NIFTY will go further up but 50 days EMA and asymmetrical resistance just above it came in the way. 17485 was the 50 EMA and 17490 was the resistance. Nifty returned from there and ended the day in negative at 17257 that is 30.25 points down. Support levels are at 17251, 17119 and 16823 b3low it. Resistances on the upper side are same 17485 -90 zone and above that 17664 zone. Our view is neutral.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.