Technical Analysis of Indian Equities by Nooresh

Nifty – What happens when Oversold

Hi,

 

As i have been tweeting since morning how Nifty has gone into an oversold zone.

 

To make a detailed explanation as to how it reacts post such oversold zones have made a video.

 

 

 

 

Inferences

 

-> Generally see a bounce of 150-300 points post hitting a oversold zone of RSI 30 for past 3 years.

 

-> Post that the same lows are tested or new lows with positive divergences.

 

-> Significant short term bottom made in a span of 2-4 weeks and a bounce of 500 + points from low is also possible.

 

 

P S  - Its a quick video made during market hours. So do let us know your feedback.

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

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Article by Nooresh Merani

Nooresh has written 2571 articles.

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