Nifty- Superb recovery, but still below 50&100EMAs
Nifty broke 17015 and went way under before making a superb recovery to close with a big green candle.
PCR remains 0.71 with good support at 17500. Nifty is yet to breach 50EMA and 100EMAs--so the pullback has a big resistance above.
Weak global cues could pull down the index when markets open after the republic day break. Massive short covering bursts and buying support by DIIs 4535cr pulled the market back--FIIs did sell for 7094cr earlier in the opening hour.
Will we see another green candle on thursday?
PCR remains 0.71 with good support at 17500. Nifty is yet to breach 50EMA and 100EMAs--so the pullback has a big resistance above.
Weak global cues could pull down the index when markets open after the republic day break. Massive short covering bursts and buying support by DIIs 4535cr pulled the market back--FIIs did sell for 7094cr earlier in the opening hour.
Will we see another green candle on thursday?
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