Bulls unable to hold 50 SMA,break of 200 DMA on cards ?

• FII's bought 2.1 K contract of Index Future worth 167 cores,0.8  K Long contract were added by FII's and 1.2 K  short contracts  were squared off  by FII's. Net Open Interest decreased  by 0.03 K contract. As US market is having holiday,participation of FII was less in todays market. The Counter-intuitive Way To Control Your Emotions In Trading

Nifty reacted from the zone of resistance as shown in below chart, price has also got rejected from its 50 SMA. Prices are heading towards the support zone of 8295-8356. Break below the same we can see deeper cut in market. As per Fibo Fans prices are again below 38.2 % retracement and unable to cross today's high

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