ShareBazaar_Khabar

Energy sector/Power sector of Indian Stock Market has seen significant fall in the past 6 months. So, this time every investor has one question in mind that is this selling over or more to come? Let's head to some Technical analysis for answering that question. Here, we have a monthly chart of Nifty Energy Index. In this candlesticks chart we can clearly see that the energy index has corrected well over 30% in past 6 months. Many stocks have even corrected more than that as well. So, let's checkout some signals that  the Technical charts are giving us for future. Here, we can see a Upward Trendline that says that market is yet bullish for the above chart  Market( the index) touched this trendline previously and bounced from that area . So, one can assume that there is a high probability for the respective chart to bounce from that level. It is also possible that market will go into sideways mode rather than being bullish and after that it will decide the nature of the trend....