NIFTY Index Chart Analysis

STRICT RISK MANAGEMENT IS THE CALL OF THE DAY

On Account of the intensified selling pressure in the broader market, the benchmark indices declined to near their previous swing low. The current downfall was one of the sharpest as it declined more in lesser time. The Nifty closed at the lowest level after July 30, 2021. The fall is severe and steeper than earlier swings. The first downswing in the current downtrend has taken 42 sessions for an 11.9 per cent fall. The second swing took about 33 sessions for 14.5 per cent. But, the current downswing is 13.9 per cent which took just 15 trading sessions.