Nifty Technical Analysis: Holding 50-hour EMA
India’s Nifty 50 is trading in the red, but is defending the 50-hour EMA 10,445.
The bullish hammer reversal confirmed on Friday indicates scope for a corrective rally toward 10,700-10,800 in the next few days.
Therefore, I would be a buyer on the dips. The bullish outlook would be invalidated if the index closes today below the downward sloping5-day EMA.
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