Nifty 50 IndexShort
NIFTY : Expecting a sell-off in overall Indian Market
From the low formed in March 2023, Nifty has rallied over 18% and from that in June of 2022 the rally is over 30%.
Although there is no major negative factors effecting the Indian economy like recession or war or political instability, still from a technical view point there is a high probability for a reversal move.
This may be due to profit booking or even the ripple effect of a crash which may happen in US market or FII selling or something else unknown for now.
Market may even continue for a while in the current ascending formation for a few more weeks maybe. But still I do suspect that a crash will be there on the cards within a few months.
Although there is no major negative factors effecting the Indian economy like recession or war or political instability, still from a technical view point there is a high probability for a reversal move.
This may be due to profit booking or even the ripple effect of a crash which may happen in US market or FII selling or something else unknown for now.
Market may even continue for a while in the current ascending formation for a few more weeks maybe. But still I do suspect that a crash will be there on the cards within a few months.
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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.