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Stocks near 200 ema3/28/2023 On falling below its 200-EMA ( ⁓ 17,550), the index may turn more negative in the upcoming days.Ī fall below 17,550 may move the index toward its 200-DMA ( ⁓ 17,300 level) in the upcoming days.Īpart from Nifty50, major sectoral indexes, like Banking, Financials, and Energy indexes, are also showing a negative trend at the current juncture. Closing Near 20 EMA Closing Near 50 EMA Closing Near 100 EMA Closing Near 200 EMA Close Crossing 20 EMA From Below Close Crossing 20 EMA From Above Close. The current market sentiment is quite negative. look at past performance and give a glimpse into where stock prices might go in. 17,770) and retested its 200-EMA on Friday. Exponential moving average (EMA) is an average price calculation over a. Summary: The analysis of the multi-timeframe technical parameters mentioned above and the O’Neil Methodology of market direction indicates that the index has breached its lower band of consolidation zone (i.e. We would then prefer to see a follow-through day before shifting the market back to a Confirmed Uptrend. Looking forward, we will shift the market to a Rally Attempt if the index establishes a bottom and stays above today’s low (17,493) for three straight sessions. ![]() On Friday, we shifted the market to a Downtrend as Nifty breached its recent correction low (17,661).The index is trading 3.50% and 1.90% below its 50-and 100-DMA, respectively.The index has retested its 200-EMA, which is currently placed around 17,550, on Friday. The detailed analysis of various technical indicators like RSI, MACD, and ADX/DMI indicate s a negative bias. Stocks breaking out of 200 DMA (Daily Moving Average) or 200 SMA are important candidates for swing trading or Intraday trading in the next few days. Furthermore, it continued its downtrend on Friday and witnessed a massive selloff due to allegations by the Hindenburg on Adani Group that caused panic in the Indian markets. However, it faced strong resistance at 18,200 level and closed below its 100-DMA on the monthly F&O expiry day (Wednesday). Likewise on the daily chart, the index started the week on a positive note.The momentum indicator RSI on the weekly chart is trending in a downward slope and is currently placed around the 47–48 level, along with a negative MACD crossover. The major selloff on Wednesday was after a research report published on the Adani Group stocks led to collateral damage in other sectors like Banking, Energy, and Metals. It traded sideways for the last four weeks in the range of 17,850–18,200 levels and, after touching 18,200 last week, witnessed a massive selloff and closed below its previous low of 17,762. On the weekly chart, the index has formed a bearish candle and breached its key support area after almost four weeks of consolidation.The ind ex traded sideways and fell around 2.35% last week. The Indian benchmark index Nifty50 moved as per our expectations mentioned in previous webinars and the weekly report published on January 23.
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