Tech view: Market trend likely to remain positive, Nifty moving to 16,800 in near term
1 min read
“Normally, a formation of such patterns after a reasonable up move or down moves calls for reversal on either side. But, having formed this pattern amidst a range movement, the predictive value could be less. Nifty has sustained above the cluster supports of around 16,400-16,450 levels as per change in polarity and daily 10 and 20 period EMA. As long as the area of 16,400 level is protected, there is a possibility of upside bounce in the market,” he added.
2022-06-06 08:34:50
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