#NIFTY weekly chart showing some similarities with the 2015-16 fall.
Both falls were preceded by an almost non-stop bull run for 1-2 years (counting from last retest of 200-week SMA).
In 2015-16, index fell 25% in 52 weeks. So far, from Oct 21, we have fallen 17% in 34 weeks.
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Nifty 50-Until 16600 is crossed then there is every chance of one more leg downwards (Wave5)
If it closes below 15700 then we can see 15500/15160
5th wave-can get truncated,
Get rid of kachra!!
Good opportunity to accumulate quality companies
chart👇
cheers https://t.co/b0M5QRcq7e
If it closes below 15700 then we can see 15500/15160
5th wave-can get truncated,
Get rid of kachra!!
Good opportunity to accumulate quality companies
chart👇
cheers https://t.co/b0M5QRcq7e
Please use the opportunity to move out of the low-quality companies into high-quality companies.
— Moneyspinners - Work Hard, Dream Big!! (@Jai0409) May 18, 2022