Nifty, Monthly
End of the month and year is closing up.
I posted this monthly chart 2 months ago. This long-term chart shows that Nifty is in a grand bullish trend making HH and LL. It is clear that there are corrections and each of the corrections, interspersed with corrective rallies, lasted for an average period of one year and the present correction is just four months old. There is a lot more to go, at least 5-6 months more till the date of general election is announced and conducted.
The present rally we are seeing from the low of 10006 started on 26th Oct.2018 is just a corrective rally during the down trend on the daily chart. Major trend is down. We wont be surprised to see the level of 9500 to 9000 -- the support zone of trend line.
I posted this monthly chart 2 months ago. This long-term chart shows that Nifty is in a grand bullish trend making HH and LL. It is clear that there are corrections and each of the corrections, interspersed with corrective rallies, lasted for an average period of one year and the present correction is just four months old. There is a lot more to go, at least 5-6 months more till the date of general election is announced and conducted.
The present rally we are seeing from the low of 10006 started on 26th Oct.2018 is just a corrective rally during the down trend on the daily chart. Major trend is down. We wont be surprised to see the level of 9500 to 9000 -- the support zone of trend line.
Note
Sorry for the mistake: ---grand bullish trend making HH (Higher High) and HL (Higher Low).
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.