NIFTY weekly analysis
Nifty CMP is 8083
* If you see the weekly RSI, then it will show nearly about 15 indicates (nearly about all time low) that there is no strength is left to go further downside (Below 7500 level).
* If Nifty breaks the 7500 level then it will clearly indicates strong bear run into the market and could go around 6300 level.
* Now sudden fall in the market might not seen further as it factored previously and it may take a pause in the range of 7900-8700 levels for a long time period of 2-3 months.
* volatility in the market will reduce gradually from now and it will stabilize as clearly the chart has very small strength to go further downside and may take reversal.
* Right now nifty is standing nearly at the retracement level of 78.6% from 2016 to 2020 bull run. Already broken the so called golden ratio of 61.8%
* Nifty might go under a long sideways zone of 8500-11000 level for the next 2-3 years
* whatever the situation occurs like invention of coronavirus vaccine, then also i am not seeing the further bull run from now onward to 12500 level for the period of 1-2 years.
* If you see the weekly RSI, then it will show nearly about 15 indicates (nearly about all time low) that there is no strength is left to go further downside (Below 7500 level).
* If Nifty breaks the 7500 level then it will clearly indicates strong bear run into the market and could go around 6300 level.
* Now sudden fall in the market might not seen further as it factored previously and it may take a pause in the range of 7900-8700 levels for a long time period of 2-3 months.
* volatility in the market will reduce gradually from now and it will stabilize as clearly the chart has very small strength to go further downside and may take reversal.
* Right now nifty is standing nearly at the retracement level of 78.6% from 2016 to 2020 bull run. Already broken the so called golden ratio of 61.8%
* Nifty might go under a long sideways zone of 8500-11000 level for the next 2-3 years
* whatever the situation occurs like invention of coronavirus vaccine, then also i am not seeing the further bull run from now onward to 12500 level for the period of 1-2 years.
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