Nifty below 21-day EMA; will NSE index extend 4-day losing run? Ajit Mishra of Religare Broking said the 23,200 has emerged as a crucial Nifty support, and a decisive break below it could strengthen the bearish sentiment, potentially dragging the index toward
Nifty Below 21-Day EMA: Will NSE Index Extend 4-Day Losing Run?
As the Indian stock market grapples with volatility, the Nifty index has fallen below its 21-day Exponential Moving Average (EMA), raising concerns among investors. Ajit Mishra from Religare Broking has highlighted that the 23,200 mark has become a crucial support level for the Nifty. A decisive break below this threshold could potentially intensify bearish sentiment, leading the index towards lower levels.
The Current Market Scenario
In recent sessions, the Nifty has experienced a 4-day losing streak, prompting traders to question whether this downward trend will continue. The overall market sentiment appears cautious, and with global cues remaining mixed, investors are advised to stay alert. If the index fails to hold the support at 23,200, we could witness a significant downturn, potentially dragging the Nifty further down.
What Lies Ahead?
Market analysts suggest that traders should closely monitor the Nifty’s movement around the 23,200 level. A break below this point could lead to a stronger bearish phase, while stability above it may provide some respite. The upcoming trading sessions will be crucial for determining the index’s direction.
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Conclusion
As we move forward, the Nifty’s performance around the 23,200 mark will be pivotal. Investors should remain vigilant and leverage resources like Looffers.com to make informed decisions. With the right approach and timely information, you can navigate these turbulent times in the stock market effectively.
