Nifty has closed below its short term moving average of 14 and 21 EMA showing weakness - Tradebulls Securities Pvt Ltd
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Nifty
Nifty has closed below its short term moving average of 14 and 21 EMA showing weakness. This week due to low volume and holiday season, we don’t expect any significant movement in Index and stock specific movement can be witnessed. Any significant upside can only be considered above 26300. On the downside, the 25900 zone remains a critical support to preserve trend strength. While a decisive breakout above 26250 would reinstate the pathway toward 26330, a breakdown below 25900 would weaken the setup and expose the index to corrective pressure till 25720. Given the prevailing technical configuration, traders may consider trimming any fresh long positions or hold their longs with stoploss of 25900.
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