Nasdaq has reached its crucial support. information is spreading about a recession in us markets, but technical like supports, rsi are saying to rise.
although inflation is too high in us, and the markets too have corrected about 35% from its top, it do looks like, markets will not correct further more.
same saying in the fibonnaci indicator. the index is lying in 0.618 zone.
lets see if the stock do gives a gap down, and gives a breakdown, or rise.
although last one statement, that NIFTY IT too have reached its last support and should not fall further(still it is been rising very slowly this days, but its in the same zone, unless us markets will stop falling). therefore i dont think much like there would be a further correction. ofcourse i could go wrong but lets further watch how markets do perform.
although inflation is too high in us, and the markets too have corrected about 35% from its top, it do looks like, markets will not correct further more.
same saying in the fibonnaci indicator. the index is lying in 0.618 zone.
lets see if the stock do gives a gap down, and gives a breakdown, or rise.
although last one statement, that NIFTY IT too have reached its last support and should not fall further(still it is been rising very slowly this days, but its in the same zone, unless us markets will stop falling). therefore i dont think much like there would be a further correction. ofcourse i could go wrong but lets further watch how markets do perform.