Nifty50 going to touch 17500 by monday!

27 thg 7, 2023

On daily candles, Nifty made a sharp top last week and today it gave a gap up closer to mid point of 'top day', where it faced resistance and now it is about to give closing below 20DEMA, should be going to touch 20DEMA (19495) soon. From there it might give a minor bounce next week and again initiate downtrend. Nifty is too far away from 200EMA and it is not possible to sustain at these levels so long without atleast touching 50DEMA. Check history, it rarely happens!