Nifty with its "Third Double Bottom"
A visual analogy signals that for almost a last dozen of months Nifty is accelerating its projection with double bottoms in a periodical manner, and a clear psychological intent of the mass investors can be analysed here by.
The Double Bottom (W) pattern :
It basically means a price line which has given support twice and thus reassured that the lowest for the time sake has been reached and now its an uptrend.
Psychological Intent in Nifty:
Each time after a (W) pattern, it stepped up the stairs, which basically signifies, investors are spotting a dip, but huge buying pressure coming, stocks getting over bought and overpriced.Thus all are not able to buy. Tradability diminishing, thus market coming downwards for the 2nd chance to ride the rally, accumulating and then an ascent again. Nifty chart shows periodic occurences of the same thing.
The Nifty chart roughly shows three months of fluctuating Double Bottoms and then a rally for a month for three consecutive times. People became more aware about valuations and are coming periodically to accumulate, whereas the former selling off, thus two bounces with an up everytime has became its feature. April can be a good month for Nifty
The Double Bottom (W) pattern :
It basically means a price line which has given support twice and thus reassured that the lowest for the time sake has been reached and now its an uptrend.
Psychological Intent in Nifty:
Each time after a (W) pattern, it stepped up the stairs, which basically signifies, investors are spotting a dip, but huge buying pressure coming, stocks getting over bought and overpriced.Thus all are not able to buy. Tradability diminishing, thus market coming downwards for the 2nd chance to ride the rally, accumulating and then an ascent again. Nifty chart shows periodic occurences of the same thing.
The Nifty chart roughly shows three months of fluctuating Double Bottoms and then a rally for a month for three consecutive times. People became more aware about valuations and are coming periodically to accumulate, whereas the former selling off, thus two bounces with an up everytime has became its feature. April can be a good month for Nifty
Penafian
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