Poster Boy of Indian Bull Market since COVID had been ADANI GROUP STOCKS. Interestingly #ADANIENT from HIGH of 4150 odd zones has fallen around 75% to 1020.
Similarly Poster Boy of NASDAQ Bull Market had been #TESLA and it has also fallen 75% from 415 odd level to 101 and recently after hitting 101 it made high of 199.
Adani although is not comparable with Tesla but it is normal tendency for poster boy stocks to give such massive correction when they had given multifold resturns in last couple of years.
Both were HIGH PE and expensive stocks.
I have highlighed probable path for coming 6 months...I believe it will be back above 2000 very soon probably before Feb end.
Broad Range for next 6 months 1400 to 3200 zones...
Even if it goes below 1400 it wont sustain and smart money will buy and push it higher...
Similarly Poster Boy of NASDAQ Bull Market had been #TESLA and it has also fallen 75% from 415 odd level to 101 and recently after hitting 101 it made high of 199.
Adani although is not comparable with Tesla but it is normal tendency for poster boy stocks to give such massive correction when they had given multifold resturns in last couple of years.
Both were HIGH PE and expensive stocks.
I have highlighed probable path for coming 6 months...I believe it will be back above 2000 very soon probably before Feb end.
Broad Range for next 6 months 1400 to 3200 zones...
Even if it goes below 1400 it wont sustain and smart money will buy and push it higher...
Comment:
Monday low was 1435 and closed at 2160 odd levels