Nifty- Again poised to close below 100EMA - 5th time in 2wks?
Nifty closed just above 100EMA today. Nifty breached 100EMA on 24th Sept 2020 and traded above the level until 26Nov2021.
Since 26Nov Nifty has closed below 100EMA 4 times (26, 29, 30 Nov and 6 Dec.)
Does this denote that the present down move is something more than a correction? Only time will tell.
FIIs flooded the market with 3407cr of selling somewhat challenged by DII's buying for 1553cr. Retail investors seem to be pouring in money- hope they aren't left holding the short stick.
Vix rose for third consecutive day. PCR fell marginally again, indicating that option writers aren't in a hurry to put their money on PUTs ...comfortably betting that the markets would correct more.
Maybe its time to take profits and lighten up till the direction is clear.
We have a narrow step down cpr tomorrow--so we might witness a downward trending market on expiry day tomorrow. Let us see whats in store ..
Since 26Nov Nifty has closed below 100EMA 4 times (26, 29, 30 Nov and 6 Dec.)
Does this denote that the present down move is something more than a correction? Only time will tell.
FIIs flooded the market with 3407cr of selling somewhat challenged by DII's buying for 1553cr. Retail investors seem to be pouring in money- hope they aren't left holding the short stick.
Vix rose for third consecutive day. PCR fell marginally again, indicating that option writers aren't in a hurry to put their money on PUTs ...comfortably betting that the markets would correct more.
Maybe its time to take profits and lighten up till the direction is clear.
We have a narrow step down cpr tomorrow--so we might witness a downward trending market on expiry day tomorrow. Let us see whats in store ..
Aviso legal
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