Nifty 50 Indexלונג
Nifty- Bullish Hammer above 50EMA
Nifty made a bullish hammer firing ahead like a rocket with a long tail. This was helped by net FII/DII purchase of 1576cr. Have the FIIs finally become net buyers? Time will tell. Nifty made a strong close above 100EMA so is looking extremely bullish trading above all three EMAs 50/100/200EMAs. PCR above 0.76 is yet to reflect bullish sentiment, we could expect an upward move tomorrow on PCR. CPR tomorrow is wide, so we can expect a consolidation/sideways market.
A gap up opening is expected tomorrow, so CPR will act as a support at 17529. Resistance are 17693/18032/18276. Support are 50EMA, 17242/17015/16676.
What do you think?
A gap up opening is expected tomorrow, so CPR will act as a support at 17529. Resistance are 17693/18032/18276. Support are 50EMA, 17242/17015/16676.
What do you think?
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