.: Technical view by Nooresh on Sensex/Stocks/Commodities

Thursday 20 March 2014

Posted: 04 Feb 2014 12:06 AM PST

Hi,

As i have been tweeting since morning how Nifty has gone into an oversold zone.

To make a detailed explanation as to how it reacts post such oversold zones have made a video.

Inferences

-> Generally see a bounce of 150-300 points post hitting a oversold zone of RSI 30 for past 3 years.

-> Post that the same lows are tested or new lows with positive divergences.

-> Significant short term bottom made in a span of 2-4 weeks and a bounce of 500 + points from low is also possible.

P S – Its a quick video made during market hours. So do let us know your feedback.

Thanks and Regards,

Nooresh Merani

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