bear case s&palways good to contradict ourselves for perspective sake. this is a a possible bear case scenario if the capital S really hits the fan with the coming eviction news and corona variants mixed in with more lockdowns or other new black swan. the govt is low on dry powder for stimulus and protections. many of you might agree the downtrend is overdue. this is all for fun not financial advice.
2008marketcrash
NIFTY - Fibs from 2008 to 2020Plotted fib retracement connecting the lows of 2008 and 2020 highs to derive long term supports of NIFTY50
Prices holds the 8550 Fib support in Feb 2020 and also in march 2020, though these levels were breached on weekly and daily charts, but monthly closing comes above 8550 levels any monthly closing below this level can lead to severe fall in the index and the next support stands near 6000 levels.