Will Nifty's 8-week losing streak trigger a relief rally but the big bottom isn't in yet

The Nifty has now lost value for eight weeks in a row, a streak that has investors wondering if a relief rally is on the horizon. This prolonged decline has led to a situation where only 12% of NSE 500 stocks are trading above their short-term 20-day moving averages, and just 16% are above their medium-term 50-day averages.

Why it matters

The Nifty's 8-week losing streak has created oversold conditions, which could lead to a relief rally. However, the bigger picture suggests that the bottom is not yet in.

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