Forecasters race to call the bottom to the market
Financial forecasters are in a race to call the bottom to the bear market.
``Nifty Future again tanked more than 100 points broke down its last double bottom area around 4,725 level. It ended with a hanging man kind of candle which is a bearish indication. Nifty closed in bearish territory but looking at some indicator we can see some bullish divergence in short term chart. Considering overall scenario we can`t rule possibility of bounce back however falling pace is strong so bottom reversal is difficult to predict. Next round of movement is largely uncertain ahead of global market scenario so it is difficult to take a definite call at this juncture. We recommend traders to trade with cautious approach however long term investors may start bottom fishing in selective stock for good return over the long period,`` said RK Global Research.