NIFTY Index Chart Analysis

MARKETS MOVING OUT OF THE GRAY ZONE

Over the fortnight, the Nifty continued its northward journey without any substantial dip. The current upswing is the longest one in the major downtrend. The index has retraced more than 62 per cent of the October-June downtrend. Further, the current swing is the longest in terms of the number of days as it took 35 days and the index has rallied 15.36 per cent from the June 17 low. The prior swing was 18 days old with a 15.59 per cent rally. The first counter rally was of 20 days and it rallied 11.65 per cent. As the index is moving in a broadening, left-angled triangle formation, the swing is to be lengthier and consume more time.

1 comments on article "NIFTY Index Chart Analysis"

Sou. Rashmi S. Mishra

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8/31/2022 8:13 PM

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