February 17, 2018

NIFTY Weekend update

  • Nifty falling back to its 100 Day SMA again. Another test of this line may work in favour of bears to close below it. Then price may fall to the 200 SMA. Bigger trend or the Daily trend will not change unless price close below 200 Day SMA.
  • Week has closed right at 20 Week SMA. Difficult to know the direction from here. A bigger bounce may happen or a breakdown below 100 SMA is also possible.