NIFTY Monthly :
After Hitting Overbought Zone In Last Few Months, Monthly RSI Dropped Below 60 Levels This Month!
This Event Happened in Mar 2008, Jan’11 & Aug’15 In The Past Also !
Time Taken To Bottom Out From This Point Were 6-11 Months
Further Corrections of 2-3.5 Average True Range (ATR) is Possible.
Fundamental Factors Affecting
Auto sales are becoming Worst.
Cement Sales not Growing
Housing and Real Estate Segment is showing weakness
PNB Housing Reported Increase in NPA for Retail Loans.
Disc – All views expressed are personal and for Educational and study purpose only. Consult your financial advisor before investing or taking any position based on above article.