Market patterns suggest that 2019 could turn out to be a mirror image of 2009
History repeats itself and so do chart patterns. It can be observed looking at the Nifty 50 daily chart that the current scenario might turn out to be the mirror image of 2009. UPA emerged victorious in 2009 general election and Indian stock market celebrated the event with two upper freezes in a single day followed by the bull-run that continued for the next 18 months. But, the market went through the tough phase before experiencing such euphoria.
Deep cuts have been witnessed in September-October 2008, followed by sideways dull market from October 2008 to March 2009 and eventually, the consolidation resulted in a pre-election rally. Rudra or its research analysts, or his/her relative or associate do not have any direct or indirect financial interest (except L&T Finance Holdings Ltd.) nor any other material conflict of interest at the time of stock recommendation, in the subject company. Also, Rudra or its research analysts, or his/her relative or associates does not have actual/beneficial ownership of one percent or more securities of the subject company.source- www.moneycontrol.com
The same scenario has been repeated in 2018-19 till now, which suggests that this really could get accelerated in May series with a sharp move and the ruling party might remain in power once again.
If you want more information regarding the market News & many other tips like Intraday Tips, MCX Free Tips, Indore Advisory Company, Bullion Market Tips, Share Market Tips In Hindi, Bullion Energy Tips, NSE & BSE Market Tips, Free MCX Market Tips, MCX Premium Tips, Live commodity tips.
No comments:
Post a Comment