Nifty : 2 year and 4 years average

14 Mar 2020

Nifty has closed below 104 weeks EMA and 208 weeks SMA. Index took lot of supports at these averages which can be clearly seen on chart. Let the market close above 11200 on weekly basis for 3-4 weeks to confirm that market has bottomed out. 500 day EMA ( 2 years trading sessions average) also comes at 11150. If market trades in between 9500-10800 then these averages will come down and proportionately reversal level will also come down. US market follow famous 4 years presidential cycle (bull and bear). That's why I thought to look for 2 and 4 years average.