Nifty Chart
Banknifty maintained bearishness and not even clkose above 23.6% of the current swing20009
yesterday high EXACT, touched and closed below close above 20050 wiull be good for 22418+
On Daily chart
EMA50 at 9611 [yesterday high 9584]
EMA21 at 9250
in between range 350 points volatility persists
while breakout either side
12430-7511 swing's 38.2% at 9390
so close above this levels should be good for bulls
279-12430 swing's[lifetime] 78.6% at 9829
max reached 9889 and closed 9859 [30/4/2020]
next day major gap down 9533 and make a low 9266 and closed 9293
implies no strength to cross not even 50% of the swing 7511-12430
Even after 20lac Cr relief package market was
not sustained at high and above ema50
check the current swing 9038-7511 exactly reversed at 61.8% and reached
target 138.2% and almost try to reach 161.8%(9983) , actual high 9889
with bear gap of 94 points, always bear gap filled by gap down with 4 times
of the bear gap as a target], Exactly gap down next day with 326 points
EMA21 of RSI14 still maintained bearish sign [below 50]
