NIFTY daily chart analysis

• Nifty has closed below 5 day low ema.
• Nifty is trading close to its 20 day moving average.
• Index is still trading inside the up trending channel.  a daily close below the support line of the channel can give a large correction.
• In recent times when ever the index closed below 5 day low ema and 20 day moving average it has managed to make a comeback. But when the trend decides to changes this may not happen. One should trade with caution.
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