NSE:NIFTY   Nifty 50 Index
Nifty has taken the straight trend for the longer time fram, defies the correction and sustains the average lines so far, but the law of gravity should be respected. (Retracement), so far DII inflow keeps the nifty higher, Once the DII fund is being started taken out, the price will fall like a Tom from clouds.It had a break out at 18820 that lasts for 5% upward momentum, Considering the 530 days of consolidation this 23% gain on 175 days thats the maximum gain attained so far has not been done on the break out stage. Hence this appears to be a fake break out. Investors should be very caucious when this scenario happens. If Nifty Holds 18000 mark till december 2023. then we can say upward momentum intact. However the break out above the present move is not satisfactory. Until it breaks above the peak of the day chart. we will assume as sell on every raise.I think this will work for the shorterm traders.
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