In an evening inspired by dshort.com’s Market Snapshot, I decided to do something similar for the Indian Market (Nifty) – a retracement and surge demonstration of the market move since end-2007.
(Click for a larger image)
I’ll post this every couple of days or so. I know it looks VERY similar to what Doug has done and therefore design credits are all his. I wanted to reflect the information in the most intuitive manner and Doug has it down pat. I’ll try and improve on these charts for India, adding for instance, P/E bands and some commentary, but this chart should give you an idea of where we are.
Incredibly, we have not had a 20% decline from the nearest high since March 2009. Before 2007, we had a 30% decline in 2006, and a similar one in 2004 (and before that it was a bear market anyhow). It’ll be useful to chart the longest time since a deep decline (20% or more) – that, on another day.
Tell me what you think!
