Over the last few years we have seen Defty and Dollex 30 have given some really good signals to major topping out and bottoming out.
Bse Dollex 30 is back to 3050. This was the price it broke out in 2014. In dollar terms we are back to the breakout point of 3 years range. A Nifty equivalent would be 6000-6400. We have seen this price act as a resistance in 2012-2014 and now should be a strong support.
Like we mentioned in last video retest from 8050 odd levels was on cards. Now that it has come technically markets now look ripe for a bounce and we have initated a buy on Bank Nifty and Nifty in two parts from current levels for all clients.