Nifty at 22,000: 5 reasons Axis Securities believes market near a bottom

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Nifty at 22,000: 5 reasons Axis Securities believes market near a bottom - Business Standard

Quick Summary:

From key moving averages, momentum oscillators to historical price trends - Axis Securities in its report highlights the key metrics in its argument that the Nifty may be near a bottom this March.

The present market drop has dragged the oscillator down into the lower end of this area; thus the odds of a rally attempt from here are materially high. Further, 6 out of 11 sectors are oversold based on their 14-day RSI, and all sectors are trading below their 200-day moving averages. 5.

That apart, the report highlights multiple indicators suggesting that the market may be near a bottom. Here are the 5 key reasons that the brokerage firm listed out in its report titled - Nifty at 22,000 - An opportunity beckons. 1.