I was amazed to see that the two patterns are almost similar. I took the weekly historical data and found out the correlation between the 2 sets. The correlation is as high as 87.5%.
The next step was to run a regression to predict the Nifty values using the old data. Again I found out that 76% of the current Nifty data was easily explained by the old Nifty 50 data.
So, Is Nifty 50 repeating history? .
One can only find this by going into the future. Let's wait and see how the pattern evolves in the coming days.
Note: The above are explicitly mine and not at all suggest any forecast of the future.