50 Hours EMA (Mother line) and Trend line resistance in play
As discussed in yesterday's video Mother line at 50 hours EMA and Trend line resistance stopping the march of Nifty again. Nifty again nose dived today to confirm support which it found at 25307. After finding the support Nifty recovered again today smartly to close at 24413. Mother line at 24481 and trend line resistance in the range of 24500/24525 range again acted and forced nifty downwards. These resistances are not easy to cross as described yesterday.
(To know more about Mother, Father and the small child story (Represented by 50 EMA, 200 EMA and Candle sticks respectively. You need to read my book The Happy Candles Way to Wealth Creation. Available on Amazon and trending at number 18 in hot new release category. (Business Economics and Strategy).
The supports for Nifty are now at 24307, 24274 and 24074(Major support Father line 200 Hours EMA) and yesterday's low.
Resistances for Nifty remain at 24482, the range between 24500 and 24525. Closing above 24525 will open the doors for 24584 and 24686.
(To know more about Mother, Father and the small child story (Represented by 50 EMA, 200 EMA and Candle sticks respectively. You need to read my book The Happy Candles Way to Wealth Creation. Available on Amazon and trending at number 18 in hot new release category. (Business Economics and Strategy).
The supports for Nifty are now at 24307, 24274 and 24074(Major support Father line 200 Hours EMA) and yesterday's low.
Resistances for Nifty remain at 24482, the range between 24500 and 24525. Closing above 24525 will open the doors for 24584 and 24686.
Happy Candles Investment
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