#nifty50 Gaps down, flies below 200EMA, more pain ahead?
Nifty left a major gap as it opened gap down and continued the down move. 50EMA was breached on weekly charts and 200EMA offered no support on the daily chart. DIIs bought for 7668cr compared to selling of 6448cr by FIIs. PCR for next week expiry at 0.46 contra indicates an upmove but vix shot up to 31.98 ---news could trigger another downslide. Huge red candlestick indicates probably the recovery won't be immediate and some more damage is coming. 15900 could be under threat tomorrow unless there is some serious positive news to build a reversal....what do you think?
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