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Month: December 2021

Markets action for the Week

Markets action for the Week

The Nifty Index has done a positive close taking well-expected support at 40WEMA. The weekly candle closed in green, leaving an impression that the lower levels are arrested now. Weekly RSI is turned from over-sold to a slightly buy momentum. We need a further conformation on the level up towards 17500, which is possible only above 17250, a very crucial resistance in this expiry week. There is strong participation from Metals, IT, and FMCG, but this is not enough to…

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Markets action for the day 24-12-2021

Markets action for the day 24-12-2021

The Index has witnessed a massive recovery from the lows of 16410. As we expected, the Index is in its short covering mode, and thereby breaking its short-term resistances make it bounce from lower levels. 16410 is a weekly swing low. Considering the expiry week, as well as the final weekly expiry of this calendar year, sideways to positive momentum is expected. 16900-1700 was a gap that needed to be filled, and that has exactly happened in yesterday’s market. Now,…

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