Nifty update on 04th March 2022
Updated
Good Morning Everyone,
Russia’s military action in Ukraine has significantly impacted global markets, and The Indian market is also suffering. While taking into account the recent geopolitical tensions, including Crimea annexation of 2014, Iraq war, and Afghanistan war, KR Choksey PMS in a study suggests that Nifty50 usually corrects 31-37% on an average in a bull market and that the recovery post bottom formation takes about 4-6 months in case of war crisis and around a year or two in case of significant events.
Technical analysis
======================
A long bearish long day candle has formed on the daily chart. 16,000 is still a critical level to watch for the next couple of days, and a breakdown of this level can give more move in downside. Our Harmonic XABCD pattern will be activated lower than 16,000, and the next nifty target is 15,200. And this level is important to start investing in value stocks.
Intraday on 04th March 2022
============================
India usd and SGX are tradings on a negative note current price is 16,163, which is almost 300 points below the previous closing, A considerable gap down is expected. The Index will be volatile in intraday, so you need to wait for the first 30 minutes to build your trade.
Russia’s military action in Ukraine has significantly impacted global markets, and The Indian market is also suffering. While taking into account the recent geopolitical tensions, including Crimea annexation of 2014, Iraq war, and Afghanistan war, KR Choksey PMS in a study suggests that Nifty50 usually corrects 31-37% on an average in a bull market and that the recovery post bottom formation takes about 4-6 months in case of war crisis and around a year or two in case of significant events.
Technical analysis
======================
A long bearish long day candle has formed on the daily chart. 16,000 is still a critical level to watch for the next couple of days, and a breakdown of this level can give more move in downside. Our Harmonic XABCD pattern will be activated lower than 16,000, and the next nifty target is 15,200. And this level is important to start investing in value stocks.
Intraday on 04th March 2022
============================
India usd and SGX are tradings on a negative note current price is 16,163, which is almost 300 points below the previous closing, A considerable gap down is expected. The Index will be volatile in intraday, so you need to wait for the first 30 minutes to build your trade.
Trade closed: target reached
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