NIFTY Bounce from 100 SMA

• Possibility of testing 100 SMA came true today But it was rather swift. More important is the fact that Bulls managed to hold on to this line to avoid further weakness.
• Now the 100 SMA line and the 20 Week SMA shown in weekly chart is crucial. If these levels are tested again within this series then bigger falls are possible.
• Crucial number in Month chart is 10530. Bulls need to stay above this number to avoid a bearish engulfing in this time frame.
• NIFTY Weekend update

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