Nifty 50 today has Breakdown 50 DEMA.
And also closed than 50 DEMA. i.e., 31.49 points lower. (Point B)
On 16th September 2022 itself Nifty 50 has Breakdown from its previous trend (point A).
Today its breakdown from 50 DEMA shown that market is moving downwards.
Looking into previous strong supports two levels can be recognized
1. Around 16800. (200 DEMA)
2. 16000. psychological level.
Apart from those two. Another bearish level is 14800 (But for that too much negativity must prevail in overall environment).
Both the levels of NIFTY 50 are good to accumulate for index fund, till then stay with cash.
And also closed than 50 DEMA. i.e., 31.49 points lower. (Point B)
On 16th September 2022 itself Nifty 50 has Breakdown from its previous trend (point A).
Today its breakdown from 50 DEMA shown that market is moving downwards.
Looking into previous strong supports two levels can be recognized
1. Around 16800. (200 DEMA)
2. 16000. psychological level.
Apart from those two. Another bearish level is 14800 (But for that too much negativity must prevail in overall environment).
Both the levels of NIFTY 50 are good to accumulate for index fund, till then stay with cash.