NIFTY 50 MONTHLY CHART WITH LONG TERM TREND CHANNEL
NIFTY 50 monthly chart with EMA 55, comparing with its long-term trend channel indicates that markets have to trade above 10,200 levels to regain bullish trend. Until then, markets are likely to be consolidate within a bearish move, with short-term bull relief rallies, providing trading opportunities only. I have constructed an approximation of trend channel, using valuation reasonableness as a test.
The best scenario one may expect with this rebound, NIFTY 50 index to undergo time correction, build momentum to resume the upward trend.
Watch out for catalysts for perspective, especially from Indian Government's strong policy measure on multiple fronts with a medium term economic outlook, to support price action!
Disclaimer: This is not a trading recommendation. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.
The best scenario one may expect with this rebound, NIFTY 50 index to undergo time correction, build momentum to resume the upward trend.
Watch out for catalysts for perspective, especially from Indian Government's strong policy measure on multiple fronts with a medium term economic outlook, to support price action!
Disclaimer: This is not a trading recommendation. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.
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