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Nifty Monthly Momentum

31 Aug 2020 ‚óŹ 07:45 AM

While all eyes are on the Nifty Intraday volatility, what people are not talking about and probably will not, is that Nifty closes for the month of August today and in doing so it will also close above the 20 month average for the first time since Jan 2020. In FEB the level was broken for the first time since June of 2016. So it is a conquest. This also pushes my monthly momentum indicator back into buy mode. So monthly chart of Nifty and Nifty 500 and Nifty Midcap index all confirming the trend reversal at hand. 

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