Nifty Charts :
Daily Chart :
Nifty formed doji candlestick on daily chart. Doji near channel support shows indecision. Tonight we have FED metting , expecting a wild action in Nifty tomorrow.
Hourly Chart :
Two channels (Red and Blue) which i am following are marked in chart above. Slope of channel just got stepper , suggesting impatient bears.
Blue channel resistance : 8056
Red channel resistance : 8096
21HEMA : 8122
34HEMA : 8180
5DLEMA : 8115
From the above set of numbers we can conclude that Nifty needs a move above 8096-8122 for pause in fall. Untill then Nifty remains firmly in bear grip :).
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