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Nifty 50 Index
Short

Time to book profits, Nifty Covid drug rally nearing exhaustion

183
NIFTY was in a channel from 2008-09 till 2020. But in Nov 2020 there was a breakout of this channel, I have taken the channel width as the possible target which is around 17650-17750 and then a possible reversal.

  • This liquidity driven rally is reaching its exhaustion, tapering and inflation will catch up soon
  • The marcos don't support this valuation
  • There are many Geo political variables which would soon play out, especially China and USA
  • Expecting Nifty to turn bearish over the next couple of months


BOOK PROFITS NOW!

Note: These are my personal views and not a trading recommendation. This will play out over the next 1-2 year time frame and not in short term.
PulsTrade
Candlestick AnalysisNIFTYParallel ChannelTrend Lines

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.
Candlestick AnalysisNIFTYParallel ChannelTrend Lines
PulsTrade

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.