With the daily Stochastic RSI absolutely bottomed out and a close to oversold RSI, it would seem likely to many that a big rally is incoming. But since we are in the slow descent to $5000, something similar to mid-June is far more likely... expect the next few days to see a modest rise of $500 from $7000 back up to $7500 resistance prior to the ETF decision.
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"NIFTY" Observation and comparison with 2008 and movement ahead
(((same movements with shorter time frames)))
1) It should bounce back from 85 DMA
2) Correction continues and Breaks 85 DMA
3) Take support at 200 DMA and fresh BULL RALLY starts!!