A quick look at some indices.
Nifty is yet to touch the 200 dma.
S&P 500 and Nasdaq 100 too away from the 200 dma.
Bank Nifty , Dow Jones and Dax have done the 200 dma touchdown.
Generally a bottoming out takes 2-4 weeks after such oversold zones or a quick bottom which can be confirmed by a sharp recovery.
Brace for volatility and look to deploy slowly.
Bank Nifty – Oversold and 200 dma touchdown. Time to accumulate Bank Bees if one has a large cap orientation.
Dow Jones – Oversold and 200 dma touchdown.
Dax – Another touchdown of 200 dma.
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