Hello everyone,
Nifty had a great time in 2023. Now is it a time relaxation and allowing the correction which is required for market to breath healthy.
There were few gap-ups earlier. Of these, one gap has been filled up and has acted as a good resistance pushing the market in the downward trend towards the next gap-up space created earlier. Currently it has taken a mild support on that space but the downward pressure is not yet released. If the market sustains the zone it might observe a mild consolidation and start a fresh upward trend else the market with continue its journey toward the next gap -up spaced which is yet to be filled.
Fingers crossed.
Correction is required. Let it settle and than enter the market.
Nifty had a great time in 2023. Now is it a time relaxation and allowing the correction which is required for market to breath healthy.
There were few gap-ups earlier. Of these, one gap has been filled up and has acted as a good resistance pushing the market in the downward trend towards the next gap-up space created earlier. Currently it has taken a mild support on that space but the downward pressure is not yet released. If the market sustains the zone it might observe a mild consolidation and start a fresh upward trend else the market with continue its journey toward the next gap -up spaced which is yet to be filled.
Fingers crossed.
Correction is required. Let it settle and than enter the market.