28 Jun 2024 – 425pts up in last 1 week + 1 day Nifty50
Nifty Stance Bullish ⬆️
The good news is that Nifty is up ~425pts or 1.8% between 21st Jun to 28th Jun, the bad news is that my weekly report will now be emailed after Friday's trading day.
For this week's report, I have price action from last Thursday to this Friday, which means 1 week + 1 day, well that does not make a significant difference in the outcome though - Nifty is still up and going up.
If you look at the 16mts chart, we went up almost at a 45-degree angle - real credit should go to BankNifty (which we will discuss soon). We have a new ATH now @ 24174, it looks like this massive freight train cannot be stopped now.
Nifty is up 12.82% ~ 2726pts from the intraday low of 4th June and up 6.48% ~ 1460pts from closing levels of 31st May. For the naked eye, it all seems the market has broken away from the shackles surrounding the political instability. Few of you may remember, that there was an accusation of fraud, and price rigging after the exit polls were published - but the price action that followed buried that rumor.
The price action and technical analysis still show bullishness, but I felt markets would correct after the election results. This market has continued to prove me wrong - again and again.
Stance continues to be bullish till 23829 is defended.
The good news is that Nifty is up ~425pts or 1.8% between 21st Jun to 28th Jun, the bad news is that my weekly report will now be emailed after Friday's trading day.
For this week's report, I have price action from last Thursday to this Friday, which means 1 week + 1 day, well that does not make a significant difference in the outcome though - Nifty is still up and going up.
If you look at the 16mts chart, we went up almost at a 45-degree angle - real credit should go to BankNifty (which we will discuss soon). We have a new ATH now @ 24174, it looks like this massive freight train cannot be stopped now.
Nifty is up 12.82% ~ 2726pts from the intraday low of 4th June and up 6.48% ~ 1460pts from closing levels of 31st May. For the naked eye, it all seems the market has broken away from the shackles surrounding the political instability. Few of you may remember, that there was an accusation of fraud, and price rigging after the exit polls were published - but the price action that followed buried that rumor.
The price action and technical analysis still show bullishness, but I felt markets would correct after the election results. This market has continued to prove me wrong - again and again.
Stance continues to be bullish till 23829 is defended.