Last anniversary Nifty plummeted 5.62 percent, to aing at 10,316. This was the 5th after anniversary of abatement in the Nifty index. From an best aerial of 11,760 registered on August 28, Nifty has collapsed added than 13 percent.
The Nifty mid-cap and small-cap indices accept plunged 28 percent and 41 percent from their corresponding best highs registered in January 2018.
The Nifty has now angry abrogating on a YTD base with a abatement of 2 percent. However, on Monday, Nifty bankrupt in blooming with accessory assets of 32 odd points, to aing at 10,348.
If we were to draw a abiding trend line, aing the account lows of October 2008 (2252) and February 2016 (6825), it projects the able abutment at 10,200 odd levels.
The Nifty has accomplished this abutment on Monday followed by a nice intraday recovery. The base formed a bifold basal at 10,200 during the intraday barter and bankrupt 150 credibility college from day’s low.
A aing beneath 10,200 could advance the Nifty bottomward appear the aing ambition of 9,875, acquired from 38.2 percent Fibonacci retracement of the absolute advance apparent from 6825 (March 2016 low) to 11760 (August 2018).
The 200-DMA for the Nifty is
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