NIfty breached important support and closed below it.
NOw it is likely that Nifty is going to touch 200 DMA which is at 4650 presently.
From this level Nifty may bounce back or may enter into a bearish market like that of 2008 when 200 DMA was first breached.
If we see some 2/3 closing below this level then it is better to get out of the market.
| Important Nifty Levels for | ||
|---|---|---|
Nifty Pivot |
4700 | |
| Support | ||
| 4684 | 4650 |
|
| Resistance | ||
| 4730 | 4750 | |
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