Nifty ready for a new rally.
There is a very high chance that the correction in the Nifty 50 is close to being over.
Gift Nifty also looks ready for a new rally. I have already shared the chart.
Now there are two scenarios possible.
1. Nifty 50 takes one final dip to test the lower range of the box.
2. Nifty 50 stays here and consolidates until the midcap and small-cap indices catch up, which are also very close to completion. I will upload the chart soon.
Whatever happens will happen and be completed by next week, before the budget. The market is likely to stabilize completely before the budget.
Sentiment is extremely negative, and shorters are very overconfident right now. This is usually a sign of a reversal. The market will find a bottom when no one expects it; always remember this. I personally think the NIFTY50 has made its bottom.
Gift Nifty also looks ready for a new rally. I have already shared the chart.
Now there are two scenarios possible.
1. Nifty 50 takes one final dip to test the lower range of the box.
2. Nifty 50 stays here and consolidates until the midcap and small-cap indices catch up, which are also very close to completion. I will upload the chart soon.
Whatever happens will happen and be completed by next week, before the budget. The market is likely to stabilize completely before the budget.
Sentiment is extremely negative, and shorters are very overconfident right now. This is usually a sign of a reversal. The market will find a bottom when no one expects it; always remember this. I personally think the NIFTY50 has made its bottom.
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