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What the charts and options data say about the current market rally

The bounce has taken fundamental analysts by surprise, as there has been few signs of an economic revival

April 30, 2020 / 09:36 AM IST
What the charts and options data say about the current market rally

  Markets have crossed the first Fibonacci barrier by breaching the 38.2 percent retracement drawn from the bottom of the fall. The bounce has caught many participants by surprise as there have been no signs of economic activity since the bottom was made. (image) Fundamental analysts have been caught completely unawares as it is difficult to assess the impact of the Covid-19 led lockdown on the market in general and individual companies in particular. Even company managements have refrained from guessing...

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