Nifty : 2 year and 4 years average

NSE:NIFTY   Nifty 50 Index
Nifty has closed below 104 weeks EMA and 208 weeks SMA . Index took lot of supports at these averages which can be clearly seen on chart. Let the market close above 11200 on weekly basis for 3-4 weeks to confirm that market has bottomed out. 500 day EMA ( 2 years trading sessions average) also comes at 11150. If market trades in between 9500-10800 then these averages will come down and proportionately reversal level will also come down. US market follow famous 4 years presidential cycle (bull and bear). That's why I thought to look for 2 and 4 years average.


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