NIFTY 50 NOT IN RECESSION!! DETAILED ANALYSISi have used a great colour to present my analysis.
so please go through the colours carefully.
INDIA is clearly not in recession, this makes us to understand its bottom point. lets start:
THE TWO BLUE LINES: represents the trend followed by NIFTY post corona's bull run.
and through drawing the PURPLE LINE, i have marked the bottom, and its area(sorry for the bad drawings :p)
i had followed the analysis by describing how that point i have marked is the recession point.
have a look at ORANGE LINE, its the bull run trend. after the bull run completed markets have consolidated(THE ORANGE CIRCLE)
FII entering in INDIAN markets made nifty to rise a more(till the orange circle)
DEFINING more about, THE ORANGE LINE, past from 23rd march till 12th April, nifty was on left side of the orange line, after that it came to other side. just a short observation of saying bull run got completed. (arrows are drawn have a good look).
THE TWO GREEN LINES are the support lines. now have a look at THE PURPLE ARCS. INDIA was not in a recession from the start so, it has just touched its support line, and never entered in recession. the same situation is now too.
check, THE DARK BLACK LINE, its the support line(which is supported many a times).
FINALLY, i conclude my analysis, where i have described how and where nifty 50 is in its position. i will post soon about its further trend lines(resistance and support).. stay connected!!
