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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.

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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.