Nifty closed today at 9979 up more than 1.5%, riding on upbeat sentiment as India starts to re-open.
As we are just shy of 10K mark, I would expect Nifty to touch at least 10150-200 levels. But as Market turns all bullish, I have to mention that we are approaching a potential Top in this rally.
Nifty has risen in what seems like a straight line from 9000 levels, which indicates we may be completing this rally early than from what I had anticipated. Had we have had some sort of a breather in between, I would have then expected Nifty to rally up to 10600. But now that we haven’t had any pullback of sorts, I am of the view that we might not be able to go that far.
As we are just shy of 10K mark, I would expect Nifty to touch at least 10150-200 levels. But as Market turns all bullish, I have to mention that we are approaching a potential Top in this rally.
Nifty has risen in what seems like a straight line from 9000 levels, which indicates we may be completing this rally early than from what I had anticipated. Had we have had some sort of a breather in between, I would have then expected Nifty to rally up to 10600. But now that we haven’t had any pullback of sorts, I am of the view that we might not be able to go that far.
Note
Expect 9800 Next
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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.