5950-5970 is a very key support zone for Nifty Futures. Going below that would imply short term weakness for the market. It would set off a pattern of lower tops and lower bottoms for the short term. Keep a close watch on this zone.
Also yesterday FIIs sold approx 950cr in the cash market. Keep watching FII activity closely.
1 comment:
well NIFTY 6000 is 50 DMA. so it all probability NIFTY will close below that next week. So isnt 6000 more important than 5950 ?
If you do a back best- how has NIFTY performed when it closed below 50 DMA,the results are not pretty.
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