UnknownUnicorn3503085

Is it the Nifty Top out?

Short
NSE:NIFTY   Nifty 50 Index
With lots of positive news & daily new turbulence in the Stock Market. The Benchmark Index i.e. Nifty & Sensex both are at the highs.
But does this high leads to a new high or it's a hoax.
As Considering News Factors -- Markets will be making new high.
But on the look of Fundamental patterns -- Higher Inflation , Under-quoting of NPAs by Banks, Fraudulent Activity by Renowned Brokers, Liquidity Crunches in the NBFC & lending Business, Public Strikes/Kiosk/Anger/Fight against Government's CAA, Global Pressure,Loss Making E-commerce business investing in other business and Index trading at the PE of 28 - 30 Levels. But still Indian Market is making new highs...Kind of questionable thing.
Thus, with all such factors - Nifty will be correcting very soon.

One can Short Nifty near the levels of 12200-12300.
For the targets of 11570 or more for the next year or the coming months.
with an SL of 12650-12750 levels.



--
By
Market Commentary|Investiture.in
Trade closed: target reached

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