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Nifty yesterday has broken the 200 Day Exponential moving average which was at 7765 levels.Nifty yesterday which showed a gap up opening closed at 7850 levels.The next hurdle for Nifty will be at around 7872 which is it’s  200 Day moving average.200 Day moving average is considered as a key resistance or support for an index or stock.If it crosses that level then we can expect the index to head even higher.
The key triggers for yesterday were dovish outlook by the IMF for India and the more than expected rainfall by met department of India.This uplifted the market sentiments and lead to the rally.Buying pressure was heavy yesterday as was clear that everyone was ready to buy at higher levels.There may be some consolidation ahead as there may be some profit booking but the long trend remains bullish.The earning season is about to begin which is the key trigger ahead.
As Nifty broke the 200 DEMA, many traders took positions in the call option of Nifty at strike prices of 7900,8000 and 8100.This can further add to the bullish sign.It is recommended to buy the May call option strike price of 8000.It could give some good profits ahead.Keep in mind that 7850 remains the support for Nifty.

The support levels of Nifty are moving up as the put option built up are being seen at the levels of 7500 and 7700 which can now be considered as crucial support for Nifty.Going ahead we can see the levels of 8300 in near term.

Summary
Nifty has broken the 200 DEMA
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Nifty has broken the 200 DEMA
Description
Nifty yesterday has broken the 200 Day Exponential moving average which was at 7765 levels.Nifty yesterday which showed a gap up opening closed at 7850 levels.The next hurdle for Nifty will be at around 7872 which is it's 200 Day moving average.200 Day moving average is considered as a key resistance or support for an index or stock.
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WayToInvesting
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