NSENG:NSE50
Just a Thought: Not for Trading Purpose
NIfty has been free-falling all Due to COVID 19 and the same for Gold, Commodities everything.
Chart that Nifty has the following in Pre 2008 Level and Post Market Crash in respect to USD/INR.
Similar kind of Trend can be Observed as marked inboxes.
Levels are marked for reference purpose only
Can we say...
It has bounced from an extremely crucial monthly Ichimoku (Kumo) support. If it were to be held then all time frames suggest a consolidation between 14000-12500 would be likely. However, if it does not hold then the next major support is a Bullish Harmonic Shark at 10000. $:INR showing signs of exhaustion currently is a big issue with the sector.
