#nifty50 bullish engulfing candle, Can it fill the gap tomorrow
Nifty made a big green bullish candle engulfing the previous day's candle- also breached and closed above 200EMA. 16900 will be a key hurdle while CPR will provide downside support. FII/DII were net buyers by 194cr, should we see resumption of buying then Nifty will certainly sustain above current close. Vix remains quite high at 28.57 which will continue to make markets jittery. Lowering of GDP estimates for current year could be a dampner alongside the global ukraine issue....will it spook the market? Let us say we have a conditional bullish view if friday's close is not broken? What do you think?
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