Tuesday, May 25, 2010

Nifty stocks 200 days EMA

Nifty is now trading below its 200days EMA. In the past we have seen whenever a stock trades below its significant moving average it tends to correct heavily and for a longer duration of time. Recent examples are BHARTI AIRTEL, DLF, IDEA, STERLITE, SUZLON & UNITECH. Now NIFTY, RELIANCE and several other stocks have started trading below key moving averages. One should be very careful with long positions cause if any hopes of recovery fail then markets can correct both in terms of price and time.
Regards
Posted by at 8:54 AM

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