The market is hovering above 5511 level. Why is this important ?
The euphoric rally started from 5511 back in November 2017
The gains it made since then have been more or less wiped out. Hence the market has reset. Its as if this rally never happened
If market holds above this level , we might see the resumption of the bull market
The momentum signature by the RSI indicates momentum to the downside is fading
This is why i am paying attention to this level
The euphoric rally started from 5511 back in November 2017
The gains it made since then have been more or less wiped out. Hence the market has reset. Its as if this rally never happened
If market holds above this level , we might see the resumption of the bull market
The momentum signature by the RSI indicates momentum to the downside is fading
This is why i am paying attention to this level