13 Mar 2025–2 supports broken, stance revised to bearish + Nifty PostMortem

Nifty Stance Bearish ⬇

In last week’s analysis, we had gone neutral, but that did not turn out to be a good decision. Friday 7th March, we held our ground, but Monday 10th, we broke the 22519 support.

Tuesday the 11th, we started with a gap down and significantly below the 22453 support, but the intraday recovery was kind of amusing. We took out 22453 resistance and closed just below the 22519 levels.

By Wednesday the 12th, we started falling badly, and our EMA crossover strategy gave a short signal. On Thursday the same strategy gave a long signal at 10am and a short signal at 2pm.

Overall, we fell 145pts ~ 0.64% over the week, and since Nifty is below the resistance level of 22453, we wish to change our stance to bearish. All eyes on the next support level of 22051 and 21913.