NIFTY50 Bounces at 0.618%
The recent pullback in global stock markets on Omicron Variant fears and now the FED Taper fears has settled down and the Indian Stock market has been outperforming this year and has retraced to the 0.618 FIB and held nicely.
Day to day the market is still very volatile but we are looking for relief rally as Omicron seems so far to be mild and some optimism of Vaccine still being effective at least partially.
Whilst we remain above 17000 the resumption of the rally based on solid India growth forecasts sees us targeting 18000 in the Christmas rally.
Day to day the market is still very volatile but we are looking for relief rally as Omicron seems so far to be mild and some optimism of Vaccine still being effective at least partially.
Whilst we remain above 17000 the resumption of the rally based on solid India growth forecasts sees us targeting 18000 in the Christmas rally.
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