#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.
More from Nitin R
I try to look for exhaustion of supply, drying down of volumes, & narrowing of daily/weekly ranges. Enter after an upmove, on the lowest volume & the smallest daily range, as the stock forms a low volume doji/inside bar while in pullback/retest at/in/near the zone of 10MA & 20MA.
I m watching your posts... amazing sir.... thanks for sharing.... can you share what is your trade set up
— Sahasra (@h_shanmugavelu) March 21, 2022
More from Niftylongterm
#repost
#NIFTY in Regression Channel.
— Piyush Chaudhry (@piyushchaudhry) April 30, 2022
A rectangular consolidation around the central Line of Best Fit, with no such reversal characteristics on display yet.
For it to revisit the upper band, odds would increase only on a break above ~17450.
Else, it's a slippery slope. pic.twitter.com/4OT7JM1TJY