Bull control in the market has weakened since the Russian invasion of Ukraine. Indeed, weak market sentiment has given bears a chance to strengthen their hold.
The last few months have seen a lot of volatility in the stock market. The last four series were named after the Bears. There are signs of change in the April series. However, the SGX Nifty is showing signs of weakness. However, if we look at the last few years, it is clear that the April series is getting the support of the Bulls. The April series has never ended negatively since 2015.
In the last few years, we have received an average return of 4.5 percent. The April 2020 series was great. The Nifty then returned about 14 percent. This indicates that the April series is in favor of the Bulls. Now we have to see if the bulls get company.
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FIIs have created long positions in the index futures. 17,319 is the first support level for the Nifty. Another support level is seen at 17,122. If it breaks, support will be found at 17,069. 36,729 will be an important level for Nifty Bank.
Bull control in the market has weakened since the Russian invasion of Ukraine. Indeed, weak market attitudes have given bears a chance to strengthen their hold. Experts believe that in the next few days, the bear type may remain strong.
Following the expiration of the March series on Thursday, traders have extended bullish deals on the Nifty in the April Derivatives series. Analysts say the position is not very strong. However, traders are expecting a limited recovery in the near term. The short-covering of the March series has also played a role in the recovery of the market.