Manali BhatiaSigh of relief can be expected for bulls as positive candlestick patterns are emerging on the chart. ‘Bullish doji’ candlestick pattern followed by big green candle suggesting that bears could take a pause and pull back rally might extend in coming days. Market is trading in a highly oversold zone where weekly RSI level has breached the low 2008 bear market and it could result in a short term bounce back. Scenario was clearly indicating that exaggeration of negative sentiments has hammered the bulls quite intensely and pull back rally will not be ruled out from lower levels. Expected rally has already taken a shape and follow up buying can still be expected from current levels.Already, more than 196 countries are under the grip of the coronavirus (COVID-19) pandemic. Even developed countries such as Italy, UK, the US etc., having sufficient resources and premium medical facilities failed to put a pause to its intensity. Particularly India, being a developing country is not groomed with appropriate infrastructure, apt digital and medical facilities to arrange for approximately 140 crore of population. Data suggests that most of the cases of this virus emerged from travelling abroad. So, in between all this Prime… Read full this story
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