Technical view by Nooresh

After 30 % correction ! Its not a time to sell

January top -21206

January low - 15332.

Absolute fall-- 27.7 %

may top - 17735

July low - 12514

Absolute fall :
29.4 %

Going by the previous falls markets will get highly oversold and bounceback should be very near.

So if we calculate 27.7% the level comes to 11270

if we take 30 % the level comes to 10900.

So ideally markets should give a bounce back from closer to these zones. If one cant buy then this is not the time to sell. Better to be patient and wait to get better days as companies continue to work and markets too.


Article by Nooresh Merani

Nooresh has written 2532 articles.

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