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Domestic flows supporting mkts
75,000 would act as a trend decider level, above which the market could rally till 75,500-75,600pts; Below the same, it could retest the level of...
Stay out of long positions as index shows weakness
Nifty has formed lower lows and lower highs, and is closing below 50DMA indicating a change in mkt status to a confirmed downtrend
Wait for shorting opportunities
Nifty formed a long-legged small body candle; If the Nifty is able to close above 17591, it can test 17,777 level, which is 20DMA
Nifty forms lower highs and lower lows
Benchmark index didn’t sustain at opening highs and closed below the opening level; It also closed at the day's low; Volume declined further
Nifty forms Hammer candle
It’s normally bullish if the next day's candle forms a higher low and closes positively
RRG chart signals weakening quadrant for Nifty
RRG Momentum has declined below the 100 zone; Even with declining Relative Strength, the OI has increased indicating shorts build up
Close below 15885 indicates bearish sign for Nifty
As index formed a long upper shadow candle, it is a negative for the market; as the expiry is in place, the volatility will increase further
Chart indicate bullish momentum
It looks like a counter-trend, but the confirmation only a day after