Nifty 50 IndexShort
NIFTY to go 24400-24300 levels and bounce back
NIFTY to correct and go to 24400-24300 levels and bounce back.
I expect a strong bounce back from those levels given constant flows into Mutual Funds.
This move will also bring RSI on monthly charts back below 80.
PS: Gold also looks to have a correction of abt 10%. Since last few years Gold / Equity and other asset classes have been trading with very high correlation. (Liquidity driven)
Please do comment if you know of any asset class with negative correlation !!
I expect a strong bounce back from those levels given constant flows into Mutual Funds.
This move will also bring RSI on monthly charts back below 80.
PS: Gold also looks to have a correction of abt 10%. Since last few years Gold / Equity and other asset classes have been trading with very high correlation. (Liquidity driven)
Please do comment if you know of any asset class with negative correlation !!
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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.