Nifty 50 IndexLong
Nifty is close to Bottom!!!
In my view Nifty is close to Bottom around 23K or we are headed for a structural bear market with targets of 18K or so.....and I don't believe the second is possible given that we are in good shape as an economy.
My hypothesis - dooms day isn't around:
- at around 23200 there is a double bottom pattern and markets could rebound from here
- In my view there is a head shoulder pattern visible on Nifty and the neck line is around 23K and if this is broken then the downside is all the way down to sub 20K - which is a doom's day scenario and that won't happen
- Like I mentioned before very bullish on RIL and IT sector to ensure we don't go into dooms day!!
Fingers crossed and I think its time to start deploying if you are in cash!!
My hypothesis - dooms day isn't around:
- at around 23200 there is a double bottom pattern and markets could rebound from here
- In my view there is a head shoulder pattern visible on Nifty and the neck line is around 23K and if this is broken then the downside is all the way down to sub 20K - which is a doom's day scenario and that won't happen
- Like I mentioned before very bullish on RIL and IT sector to ensure we don't go into dooms day!!
Fingers crossed and I think its time to start deploying if you are in cash!!
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