NIFTY 50 WEEKLY CHART ANALYSIS.
As we can see after the covid 2020 fall, Nifty 50 index recovered and respected the the support Trendline. This Trendline has just broken in recent weeks due to war situation.
If we see just before covid fall same thing happened and the Market fell sharply. In that phase the last support level was 10670 (10650-700)
As per DOW THEORY, history repeats itself, the important level for Nifty 50 becomes last support level which is 21743 (21700-800)
After the covid fall, market recovered like a boomerang 🪃 and made all time highs, the same has happened many times in past and market bounced back.
Just sit back, relax, wait for opportunity - in fact many stocks are available for investment at great discount levels.
As we can see after the covid 2020 fall, Nifty 50 index recovered and respected the the support Trendline. This Trendline has just broken in recent weeks due to war situation.
If we see just before covid fall same thing happened and the Market fell sharply. In that phase the last support level was 10670 (10650-700)
As per DOW THEORY, history repeats itself, the important level for Nifty 50 becomes last support level which is 21743 (21700-800)
After the covid fall, market recovered like a boomerang 🪃 and made all time highs, the same has happened many times in past and market bounced back.
Just sit back, relax, wait for opportunity - in fact many stocks are available for investment at great discount levels.
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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.
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.