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Charts & Analysis

Market Snapshot: Week Up 7%, Above 50 DMA


What a week. Wiped out much of the losses in November in the last two days in a rise that was almost vertical.


(Click for larger picture)

The Nifty is now just above it’s 50 Day Moving Average. The bigger resistance is the 200 day moving average.The month of November saw a 11% drop, of which more than half has been retraced already.

In four years now, the Nifty has gone down about 1,000 points, from near 6,000 to the 5,000 levels today. That’s a four year negative return, not counting inflation.


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