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NIFTY: BOTTOM OUT INTERESTING FACT- Will it happen this year?

NSE:NIFTY   Nifty 50 Index
*SOME INTERESTING FACT CHECK ON NIFTY50*

2020 IS A LEAP YEAR, WHAT HAPPENED IN PREVIOUS LEAP YEARS

*2008:* Market makes a bottom around 2216, FIB Retracment level 0.786

*2012:* Market makes a bottom around 4481, FIB RETRACMENT level 0.38

*2016:* Market makes a bottom around 6789, FIB Retracment level 0.5 (PHY)

Market made bottom every Leap Year in last decade.


Now we are in 2020 it's a leap year.
Will we see bottom this year?
Were can we find Market bottom?


*2020:* Market moving down on various reasons. Currently around 9.7K - 9.8K at psychological Retracment level of 0.5.

NOW,
~ For FIB Retracment till 0.618 it would be around 9k.

~ If market this time follows 2008 sentiment, then we can see 8K- 8.5K around i.e 0.786 FIB Retracment, market retraced till this level in 2008.

Comments

very interesting study...
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