Nifty Weekly View using 5 EMA(high-Low) Principle

For this Nifty weekly view, applying 5 EMA(High-Low) Principle to weekly charts we could found that 5EMA(High) is near 5103 which indicates that 5103 could act as resistance levels. As the trading week is going to end by tommrow nifty failing to break the resistance levels and closing below 5103 is likekly gonna bearish and could target the first zone of 4900. Nifty failing to close above 5103 clearly indicates that medium term trend has turned down. Nifty resistance zone for tommorow is 5080-5100 levels.

Source:
www.marketcalls.in

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