Nifty Close below 200EMA again

10 thg 3, 2022

Nifty could not sustain above 200EMA and closed below it. In the past 10 trading sessions, only once has Nifty been able to close above 200EMA. Again, this is despite muted selling by FIIs. FII-1981cr sales/DII 946cr buying, were relatively quiet in the market with a net sales of 1035cr. Once FII selling resumes, retail confidence could take a dent and another selloff could be a quick one. CPR tomorrow is narrow and next support is 16011. Ukraine issue resolution was anticipated but hasn't happened and crude took a breather, but can it continue to dip? SGX nifty indicates a gap down tomorrow, so some more volatility is in store despite VIX cooling to 25.58. What do you think?