Nifty - Bulls have to Cross the River
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The Nifty has reversed back to 23,500, with 200DEMA (Close) placed at 23,540, but the major hurdle lies at 23,660, which is 23,660.
Last week, the index slipped in the 200DEMA Channel {200DEMA-High and 200DEMA-Low} and hasn't closed above the 200DEMA-High. Though there was an attempt by bulls, bears convincingly took an opportunity in Tuesday's last hour of the trading day.
It's another attempt by the Bulls today. The Nifty is trading 200 points up at 23,550 around 10 a.m., and if they manage to close the day above 23,660, this is a sign of a potential reversal on the chart.
What are your thoughts?
Do share your views. -
crossed as of now
