Quarterly Analysis of Nifty50 — 31 Mar 2023 to 28 Jun 2023
N50 also rose 11.06% ~ 1888pts, percentage wise same as BN. The price action of N50 was much more healthy with 2 proper legs & occasional retracement that gave it further thrust. If you analyze the pattern from 01 Dec to 28 Jun it looks like a perfect V shape. 16962 support which provided the crucial turn...
1) TVC:DJI is taking support of 20 EMA on a 3M timeframe. Still Dec 2022 has 10 more trading sessions and I would eagerly wait to see where the monthly candle closes
2) RSI sort of made a double bottom and has started rising approaching the SMA. If it crosses the trend lines marked, expect a sharp bounce or sort of a breakout in Dow Jones.
3) Also...