Nifty Analysis 28/01/21
I am posting chart after nearly gap of 1 month the reason i felt that Nifty is little extended from all its avrages. Now as it got its correction be ready for continuing rally.....
As you can see it has taken support of 50 day EMA(marked in green arrow) multiple times. Also taken support of previous consolidation zone ( Blue line) at 13777.50
As our budget announcement is near the volatility is expected in these days. Long term trend positive.
Watch these levels for near future
Upside- 14222.80 (Green line)
Support- 13777.50 (Blue line)
Downside- 13131.45 (Red line)
Note: Chart is for study purpose not recommendation.
As you can see it has taken support of 50 day EMA(marked in green arrow) multiple times. Also taken support of previous consolidation zone ( Blue line) at 13777.50
As our budget announcement is near the volatility is expected in these days. Long term trend positive.
Watch these levels for near future
Upside- 14222.80 (Green line)
Support- 13777.50 (Blue line)
Downside- 13131.45 (Red line)
Note: Chart is for study purpose not recommendation.
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