What is Line of HOPE?
A Level where Bulls think that buying will emerge and sellers will back off.
Nifty has created that Line of HOPE since August 2014 around 7540-7550 and it has done remarkably well under all circumstances since then
As you can see in the chart above: Nifty has consistently held this level but with Global chaos hitting Indian equity market - Can Indian market stand on its own and stage a recovery tomorrow from this level - well only time will tell. The trend favors the Bulls but in chaos...anything can happen
Bulls have already started singing this song
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication, you agree to make no trade relying in whole or in part on the comments of the writers