Nifty has bounced back from 100 Weekly moving average every time since 2017 EXCEPT Covid crash. It is also trading near breakout retest zone.
Will this be bottom for this market? I don't know, but it is a good zone to deploy 30–40% of cash.
Nifty has bounced back from 100 Weekly moving average every time since 2017 EXCEPT Covid crash. It is also trading near breakout retest zone.
Will this be bottom for this market? I don't know, but it is a good zone to deploy 30–40% of cash.
@Debarred10 The volumes are indeed very high but I am ignoring it due to the fact that it is trading around multiple supports of rising trend line, horizontal support and also 50 EMA. Anyhow, you should always wait for reversal confirmation before buying.