The last 10 days of fall has wiped out 10-15% in most midcap/smallcap and broader indices across the globe.
From the recent highs the Nifty/Dow/S&P 500 are down 12-15% but Smallcap indices are down 25-30%.
Lets look at a couple of charts
1) Russell 3000 – USA
#Russel3000 - Almost 10% of the index is down 90% from their highs.
Nearly 1 in 5 stocks are down 80% from their all-time highs at the moment. More than 50% of stocks down 50%
2) Indian Stocks
All listed stocks - from 52week high Only 9% with less than 10% drawdown 91% stocks with 10% or more drawdown 79% stocks with 20% or more drawdown 57% stocks with 30% or more drawdown 15% stocks with 50% or more drawdown Source:
3) Nasdaq 100 Vix at 40-45
Nifty RSI at 30 and quite a lot of indicators point to a short term relief rally to start with. Could even be a major bottom for the medium term.
Nifty 15650-15800 and 16800 remains the band for now. ( Will discuss a lot of history of Nifty and the possibilities in medium term in the upcoming webinar. )
Webinar – Find Big Trending Moves Using Moving Average Convergence 15th May 2022
Find Big Trending Moves Using Moving Average Convergence
Date: 15th May 2022
Time: 11am to 1pm
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( Recordings will be available.)
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