50 Hours EMA Support came into action and saved the day for Nifty today. Usually 50 Hour EMA should be a good support for Nifty but if we get a closing below the same today we can see further fall which may lead the Nifty to next support levels of 21970 or 21885. 21835 is the next major support for Nifty as it is a 200 Hours EMA. If Nifty recovers from the 50 EMA support the next resistance levels will be at 22172. The zone between 22295 and 22364 is a tough zone to conquer as the zone has ATH resistance as well as challenging Mid-channel resistance.
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