On the weekly and monthly chart, we had a breakdown in March. We were testing the lower trend line last few weeks and we got rejected. RSI is near the levels that we had before the March crash. MACD line is about to cross lower of the signal line.
Along with this, fundamentals are not good for the market. There is a disconnect between market and reality.
market is always right & ahead of 6/9 months of reality. market judged current reality of lockdown effects in march & crashed. but now it is rising & will go up as economic conditions world over will only improve + no rate hick by US till 2023. tons of money is flowing in market available at 0 intrest rate,do not afraid of small 5/6% corrections, if you do not invest now you will miss 60% gain coming in next 1/2 years.
Neeraj03
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no bro bull market not ended...it's only a healthy correction...lets find out a good support zone like 10550 and 10200...downside support now
TVirus_97
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@Neeraj03 Yesterday felt like a dead cat bounce. Anyway, Federal Reserve stimulus is the main fundamental that would affect the market. Fundamentals would likely overpower technicals over the coming 4-5 weeks.