Nifty has broken its 200EMA of 5672 - SMC

The benchmark index Nifty hits fresh 2013 low in the late afternoon trade on Friday due to mixed global cues. The Markets has all set for one of its biggest weekly loss of the calendar year 2013.

The Nifty has broken its 200EMA of 5672 and manages to close below the same which indicates that selling is more aggressive at current levels. Selling momentum may remains continue for coming days which suggest the downside target of 5610-5590 for next session.

Source : Equity Bulls

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