Weekly Sectoral Analysis - Episode 152 Patience will be tested
#Weekly #Sectoral #Analysis is an attempt to share my in depth view on market with the trading community.
As per Weekly chart analysis Nifty has corrected almost 8.83 % from the top. Trend of Nifty future in daily chart is down but RSI is below 30. Generally RSI below 30 in a bull market is a sign of oversold. Although taking into consideration that an important support has been broken a trader needs to be vigilant & patient at the same time. Will this convert into a bullish trend reversal or not ?
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