![]() Meena of Swastika Investmart Ltd said that he is bullish on economy-facing banks where SBI and ICICI Banks are our top picks in the banking space while Kotak Bank and Axis Bank are also providing favorable risk-to-reward ratio. ![]() and close out the positions when Nifty trade blow 200 EMA support on closing basis,” Gaurav Garg, Head of Research at CapitalVia Global Research, said. “For Long term perspective aggressive investors/traders can make positions on lower levels in HDFC Bank Ltd, Hindustan Unilever, Kotak Mahindra Bank, Axis Bank Ltd. Most of the large-cap companies are facing relentless selling by foreign institutional investors who have pulled out more than Rs 30,000 cr in the cash segment of the Indian equity markets so far in December – 3rd straight month of the selloff.Įxperts advice investors to create some long positions in some of the bluechip names that could turn out to be a good buy on dip candidate. Many blue-chip companies are trading below their crucial long-term moving average which essentially puts them in a downtrend. Therefore, one should look for other support levels and price action along with some understanding of fundamentals,” he said. ![]() “200-EMA alone can't help you to get the right trend because sometimes many stocks fall below their 200-EMA if there is a sharp correction in the market. “Technically, 200-EMA is a very critical support level because most institutional investors like to accumulate their favorite shares around this level therefore we see a strong bounce back in any stock around this level,” Santosh Meena, head of research, Swastika Investmart Ltd, said. Theoretically, if the price close below 200 EMA is considered a bearish trend and a price close above 200 EMA is considered a bullish trend, but investors should use other indicators as well before making a buy or a sell decision. The 200-day EMA is considered a key indicator used by traders for determining overall market trends. Exponential Moving Averages (EMA) are used as indicators for long-term trends.
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