January 31, 2020

Possible 10-15% correction in NIFTY 500

Nifty 500 aka CNX500 trading between 8400-10000 levels since June 2017. Recently Nifty 500 for some time struggled around the psychological reference 10000 levels. Broken outside the upper balance, however, failed to continue sustaining above the balance indicating possible tired investors.

Look above the balance and fail is a critical sign of momentum exhaustion and bring a potential target destination of another side of the balance which roughly comes around 8400-8650 levels.

Read more at https://www.marketcalls.in/analysis/look-above-the-balance-fail-in-nifty-500-suggests-possible-10-15-correction.html

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