Nifty - View
Even at the peak of the 2008/09 crisis Nifty barely broke below the 50 quarter moving average. Only visited and bounced off it.
Even now we have a similar story, with the low being around the golden ratio. Could we take that as a bottom, lets watch this chart closely to see how markets bottom.
My view is to wait and watch if we retest the low once again to form a double bottom or something on those lines before being aggressive buying into the market.
Even now we have a similar story, with the low being around the golden ratio. Could we take that as a bottom, lets watch this chart closely to see how markets bottom.
My view is to wait and watch if we retest the low once again to form a double bottom or something on those lines before being aggressive buying into the market.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.