What I said last week was ‘I usually use this combination to say that Nifty’s mean reversion is done and the previous trend shall resume now.’ I was right but I did not expect to be so right so fast. I was actually expecting Nifty to rise up a bit more before falling down.
Since Nifty did not waste much time in resuming its downtrend, I don’t see why the downtrend should even pause. The momentum should only increase and eventually we may see Nifty around 16000 level but perhaps not this week.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation Between 17300 and 16650
Downtrend If breach below 16650; to drop somewhere till 16150
Uptrend If breach above 17300; to rise somewhere till 17800
UK and US citizens are struggling with Omicron while their economies are struggling with inflation. What a struggle. No wonder, Nifty too is struggling.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Since Nifty did not waste much time in resuming its downtrend, I don’t see why the downtrend should even pause. The momentum should only increase and eventually we may see Nifty around 16000 level but perhaps not this week.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation Between 17300 and 16650
Downtrend If breach below 16650; to drop somewhere till 16150
Uptrend If breach above 17300; to rise somewhere till 17800
UK and US citizens are struggling with Omicron while their economies are struggling with inflation. What a struggle. No wonder, Nifty too is struggling.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
