I included one interesting Ema chart with it's various vertical shifts in post for 28th January views for Nifty. So today I am just updating and re-posting that chart first to examine the move guided or identified by the Ema. My students will surely able to relate the chart and the procedure of it's formations and applications.
The Ema lines have successfully provided support to this uptrend as of now. And right now hovering above the 144 with it's -2.5% vert. shift taking support successfully @ 4900.
Supports: 4890/4900 is most critical zone to hold for nifty for any further up move. A convincing break below 4880 can terminate the immediate bullishness again for downward targets of 4855-4810-4785.
Resistances: As 4939 has been breached, it can have some bullish significance. But a confirmed breakout above 4955 can certainly bring 4985/90-5025/30-5085/95.
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