Can Nifty break its 5 month losing streak in March? Here’s what data suggests
Samco Securities. The average one month forward returns stand at 2.68%, the study found.
“We did a backtest to check what happens one month after the index closes for 8 or more consecutive negative sessions. Since 2002 there have been 9 instances of eight or more days of consecutive negative closing. The index closed on a positive note one month later in 6 out of these 9 instances,” Samco said in a note.
Today, Nifty recorded its longest losing streak of 10th consecutive fall. The headline index has fallen by 16% from the September lifetime high 26,277.35. This is now the sixth-largest drop registered in Nifty since the 2008-2009 great recession and the second-largest since the Covid-led crash in March 2020.
March seasonality also supports Nifty which has ended in the green on 7 occasions in the last 10 years.
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