Here is is a daily bar chart of the Nifty spot, showing activity over the past twelve months.
This is the 4th Big correction in the past twelve months and each of them are shown in purple rectangles.
Each correction has so far done the stipulated 600-650 points, the normal correction of the NSE generally.
Time wise also the two corrections are spaced out in the correct order and seem to be following the same pattern again.
I’ve also included the 50 Sma and the 200 Sma for a trend check and we have defended the 200 sma successfully near 5614, the traditional line that differentiates the bull and near markets.
So the Boxes and the sma seem to say that the correction is over.
Will markets listen to History?