Nifty 50 IndexLong
Nifty : 21000 levels are expected
Updated
There is a high probability that the market will move towards 20,400, and if it does not break below those levels, it may reach 21,000.
From a fundamental perspective, there are no significant negative factors on the horizon that could adversely affect the Indian economy in the near term. The government is robust, and public sentiment toward it remains positive. Consequently, there is a strong likelihood that the current administration will continue its rule even in the upcoming 2024 elections.
The combination of a stable government and a robust economy serves as a significant catalyst that could propel the market to the 21,000 mark. The only potential downside factor at this juncture is the selling pressure that may be exerted by Foreign Institutional Investors (FIIs).
I intend to maintain my positions in individual stocks until either of these target levels is achieved and a clear turnaround is confirmed. Until that, I consider any market sell off in individual stocks or sectors merely as buying opportunities.
From a fundamental perspective, there are no significant negative factors on the horizon that could adversely affect the Indian economy in the near term. The government is robust, and public sentiment toward it remains positive. Consequently, there is a strong likelihood that the current administration will continue its rule even in the upcoming 2024 elections.
The combination of a stable government and a robust economy serves as a significant catalyst that could propel the market to the 21,000 mark. The only potential downside factor at this juncture is the selling pressure that may be exerted by Foreign Institutional Investors (FIIs).
I intend to maintain my positions in individual stocks until either of these target levels is achieved and a clear turnaround is confirmed. Until that, I consider any market sell off in individual stocks or sectors merely as buying opportunities.
Note
Price did complete the upward trajectory to the top of the LTF channel line. But for the past few days the market is not showing much momentum and this forces me to re-think the higher probability outcome. As of now, I do see a higher probability for a reversal from the current levels.
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