NIFTY 50 - A DEAD CAT BOUNCE?

if you see above 2hrTF chart, NIFTY 50 has not recovered completely from Bear State and it can be just a 'Dead Cat Bounce'.

Condition for NIFTY 50 to be considered out of Bear State are as below.

1. Index start trading above 20EMA band.
2. RSI crossed 70 mark.