Nifty Ends a Bear Market Rally - CNBC Replay on YouTube
Published: Sat, 06/04/22
The last day of the week ends 3
weeks of market advance on weekly charts. A counter trend bounce that maybe over. We cited the observation below as an inter market divergence that can precede near term market reversals.
You can watch my very detailed discussion on the markets levels and sectors in my CNBC interaction in the show taking stock on YouTube at this link https://youtu.be/Q17oQOHDd6E?t=1013
The new high in Nifty today remains unconfirmed by bank nifty that is breaking the rising trendline first. Inter market divergences can be a signal of a potential trend reversal and so they bear paying attention. After that we look for confirmations of the same.
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