F&O Talk | Nifty eyes strong support at 21,200-21,300, monthly 20 EMA breach likely: Rahul Ghose of Hedged.in
The Nifty has dropped 10.53% from its all-time high, shedding 2,767 points to close at 23,559, near its 200-day EMA, signaling sustained bearish momentum.
Rahul Ghose, CEO of Hedged.in, interacted with ET Markets, sharing his outlook on both domestic and global markets, along with sector and stock recommendations for market participants. Following are the edited excerpts from his chat:
Nifty closed below the 200 DEMA this week, the first time since April 2023. What may be expected now?
Since the markets are at the 200 DMA and oversold, a bounce back from these levels cannot be ruled out. However, the fact remains that technically the markets have become weak, and any bounce will be difficult to sustain. The markets will likely slide towards the levels of 21,200-21,000 in the short to medium term. The first support for the markets is around the 21,800-21,700 range, and a breach of this support is likely to take Nifty towards the 21,800-21,700 levels.
Stock Trading
Stock Valuation Made Easy
By — Rounak Gouti, Investment commentary writer, Experience in equity research
Stock Trading
Mastering Options Selling: Advanced Strategies for Success
By — CA Manish Singh, Chartered Accountant, Professional Equity and Derivative Trader
Stock Trading
Stock Investing Made Easy: Beginner's Stock Market Investment Course
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Stock Markets Made Easy
By — elearnmarkets, Financial Education by StockEdge
Stock Trading
Technical Trading Made Easy: Online Certification Course
By —
