Indian NIFTY stock index, potential capitulation today

Today saw a potential capitulation low in the Indian NIFTY stock index, marking the end of an 8 week sell off falling 30% from January highs. Today's reversal keeps the trend up longer term with prices within the long term channel from the 2008-09 lows (today also marked 38% retrace of the bull market from 2009-09).

הערה:

I must apologise - I missed THE LOW in the NIFTY by 1 week.
The Index has subsequently risen 150%.
I'm therefore not that sorry.