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Market crash? Nifty can fall another 1,000 points from here, charts suggest

Business Standard LogoBusiness Standard1w ago

Market crash? Nifty can fall another 1,000 points from here, charts suggest - Business Standard

Quick Summary:

If the Nifty is unable to sustain above 24,500 levels, technically it can then slip to its 200-DMA placed at 23,365 levels, charts suggest.

The index has already dropped over 7 per cent, or 1,899 points, in less than a month from its all-time high of 26,277 levels.

He expects the markets to bottom out soon, unless the outcome of the US presidential polls springs a surprise and drags the US markets down, which in turn has a cascading effect on the global peers.“The advance-decline (AD) ratio hit 0.15 recently, which is the lowest level seen since the outcome of general elections in India on June 04.

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Article Details

Category: BusinessFinance

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-24 @ 11:11:27 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 723 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23220078

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