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Nifty: Trading between 21 day EMA and 50 day EMA

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For most part of the August month, Nifty has been trading between 21 day EMA and 50 day EMA

- the monthly average for Nifty Futures is around 19490

Nifty likely to open gap up. However one needs to watch out for 19389-19424 zone

If after gap up, Nifty sees rejection in this zone and falls below 19385, then pullback rally may be considered to be over and we might see continuation of downfall.

Cautious if Nifty trades above 19430. View gets invalidated if Nifty closing above 19490

Take care & safe trading...!!!

Disclaimer
-The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

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