NIFTY/S&P500 at Trendline Support

11 Ara 2021

We published our initial idea on NIFTY/S&P500 in Oct'21 where we highlighted the long-term resistance which was at play for the ratio chart. That resistance played its role well and now we are at the diagonal trendline support which was created during Mar'20 fall. This is also the 200DMA as well as 200WMA zone for the ratio. Will the Nifty/S&P500 hold this support and return back up from here? We will be watching the price action and keep this space updated.