After falling for 9 consecutive days, the greenery in the market, the wall of 23810 will be broken, then the bullet will become nifty – Sensex Nifty Return in Green after 9 Days Fall in a Row If IF IF IF

The Nifty has returned after 9 consecutive sessions. It was estimated by brokerage firm JM Financial. The brokerage firm had said that the Nifty move may turn after closing in red mark for 8 consecutive sessions. The Nifty’s move changed on 17 February. BSE Sensex and Bank Nifty also closed in green mark. Shares of Adani Enterprises, Bajaj Finserv, Zaidus and IndusInd Bank closed faster.

The brokerage firm said, “Analysis of daily price returns suggests that rarely the Nifty has fallen for 8 or more days.” JM Financial believes that there is a possibility of a limited decline in the Nifty from here. Since 2015, the Nifty has closed down four consecutive sessions four times. The Nifty has fallen for 9 consecutive session only 1 time. The Nifty has been broken on an average of 4 per cent due to a decline of 8 consecutive days on the last 5 occasions.

This time the decline of 8 sessions has come for the first time in the last one month. During this period, the average return on the Daily Closing Base was 5.4 percent. According to JM Financial, the next resistance level for Nifty on technical basis is at 23,810 points. If the Nifty crosses this level, the trend of lower top and lower bottom will stop. This would indicate the breakout Nifty growing in direction of 24,800 and 26,000.

If the Nifty falls, it will get the first support at 22,500. Nifty can fall to 21,800 when this level breaks. If this happens, it will be a great opportunity to decline. Experts say that the decline in the market for the last four and a half months has disappointed investors, especially new investors. However, it needs to be understood that the decline in the market is necessary after every major boom.

Also read: Nifty valuations in the last 5-10 years, will not invest the lowest now, then when will you do?

If investors use this decline opportunity for shopping, then after 1-2 years they will be sitting at great profits. Investors who will sell their shares for fear of further decline in the market, they will later be forced to invest in shares at higher prices. This means that their return will be very low. It is necessary to invest at a low price in shares for huge earnings in the stock market.