Long-term levels for Nifty . Since December we are seeing large moves in Nifty . There has to be a limit on how much can the nifty rise based on PE of Nifty Stocks. So here is a 10-15 year trend line extended to 2022
Bottom is at PE 23 (22-Dec-21; 27,28 Jan 22) 16,800-17,000 should be a very good support. That's why 17,000 PE has low value. 31 Mar 17,500 Short Straddle looks attractive with 970 points premium.