In my post from last year, I highlighted the potential for a market top and a correction in both the index and most of the Nifty50 stocks.
My initial target was around 21,800, which the market hit as expected, and we also saw a bounce from those levels, just as I predicted. However, if those levels are breached, the decline could accelerate, bringing the market down to 19,000.
I closed my short positions around those levels and will look to re-enter shorts. A break and sustained close above 24,150 would signal the end of this correction, possibly pushing the market to new highs in the coming weeks.
My initial target was around 21,800, which the market hit as expected, and we also saw a bounce from those levels, just as I predicted. However, if those levels are breached, the decline could accelerate, bringing the market down to 19,000.
I closed my short positions around those levels and will look to re-enter shorts. A break and sustained close above 24,150 would signal the end of this correction, possibly pushing the market to new highs in the coming weeks.
Do what others don’t know, and don’t do what others know.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Do what others don’t know, and don’t do what others know.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.